continuation vehicles

With fundraising increasingly tied to cash returned to investors, private equity firms are finding new ways to generate liquidity. But LPs are looking beyond the headline DPI numbers to see how that cash was produced — and how much risk remains.

More capital is pursuing continuation vehicles of every size, and the competition for dealmaking talent is proving just as fierce.

From a cross-asset CFO to rising deferred-payment terms and billion-dollar continuation vehicles, private equity's liquidity toolkit is converging — and testing how much of the real price GPs are willing to show.

Continuation vehicles are adding another liquidity option to a private-credit market historically built around buy-and-hold lending.

From AI software to seasoned direct loans, continuation vehicles are becoming the private markets’ answer to a global shortage of exits.