Liquidity is reshaping private equity. In this conversation, Mustafa Siddiqui, founder and CEO of SQ Capital shares his perspective on secondaries, continuation vehicles, and the discipline required in today’s market.
From separating trophy assets from dressed-up underperformers to navigating complex GP-led transactions, this is a discussion for investors focused on long-term value creation. Some of the themes covered:
– Why private equity “beta” is no longer enough in an environment marked by wide dispersion
– How capital concentration at the large end of the secondaries market leaves the middle market structurally underpenetrated
– Why secondaries should be underwritten at the underlying portfolio company level, not as an index of funds
– Where the CV market is headed and why the ability to differentiate “trophy assets” from the “lemons” is both rare and essential
– How data science and AI have allowed us at SQ to combine rigor and speed in our bottom-up underwriting
Watch the full interview: https://lnkd.in/egzf8F2n
Hosted by: Khaled Abou Zahr
