Investcorp

Investcorp initially evaluated RESA in 2016 but declined to invest because it determined the company lacked the people, platforms and processes at the time required to scale.

The same dynamics unnerving investors—higher rates, slower exits and rising redemption requests—are fueling strategies that monetize discounts, extend assets and re-cut portfolios, often long before cash flows prove the story out.

The flood of '40 Act capital from private wealth is pushing secondaries pricing to historic highs, dramatically narrowing bid-ask spreads and forcing major asset managers and new specialized firms into an arms race for liquidity-generating deals.