Blackstone becomes latest blue-chip manager to tap secondaries market

"Within these transactions, the acquiring vehicles typically pay lower fees and carried interest to the GP than the standard 2 and 20 percent respectively that a third-party GP would take. This means lower gross to net spread for the backing secondary investors, allowing them to pay a higher price. 

Yaron Zafir, Head of Secondaries at Rede Partners, was quoted by Private Equity International in the light of Blackstone's single asset transfer for Phoenix Tower International, a wireless infrastructure operator. 

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