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When it’s the ninth and the score is tied, most teams can rely on their Closer to make the difference. For many portfolios, that Closer has been private equity, providing a meaningful source of return without mark-to-market volatility. But what happens when the Closer is not performing as hoped or expected – its cutter just doesn’t have the same zip? The market today is clear: the golden years of post-GFC private equity may be behind us. Lower distribution yields are the new normal for the foreseeable future. 2018-2022 PE vintage portfolios now represent approximately 70% of total unrealized NAV, posing pacing and redeployment challenges. So, does a Manager pull his tried-and-tested Closer in favor of the hot pitcher from AAA? Join us for a conversation on the dynamics of the PE market today, how the patient capital is allocating, and how to extract the most out of your Closer in an evolving game.
Martha Heitmann is a Partner at LGT Capital Partners in San Francisco, USA. She is responsible for managing the San Francisco office and for origination, due diligence, execution and monitoring of secondary transactions. She chairs the Diversity & Inclusion Committee.
Prior to joining the Firm in 2007, Martha worked in business development for Telephia Inc. in San Francisco. From 2001 to 2003 she was a corporate and investment banking analyst for Bank of America Securities in San Francisco.
Martha holds a BA in Economics from the University of Chicago and an MBA from INSEAD. She is fluent in English and Japanese and conversant in German.
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