With growing investor interest in the sector, the secondary market has become increasingly sophisticated, say David W Tegeler and Kristin S Caplice of Testa, Hurwitz & Thibeault. Once thought to be the last resort for failed investments, secondary transactions are fast becoming a creative investment strategy in their own right. Tegeler and Caplice provide a brief guide to secondary funds, including issues to be aware of when either buying or selling.
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