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PRODID:-//Session events Calendar//IBA//EN
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BEGIN:VEVENT
DTSTAMP:20260414T145630Z
DTSTART:20230202T123000Z
DTEND:20230202T133000Z
SUMMARY:Dancing with myself? – Best practice in secondary buyouts and cir
 cular deals
DESCRIPTION:Secondaries are often criticised because it is just one fund 
 selling to another. Europe’s largest asset manager went so far as to cal
 l such arrangements a ‘Ponzi scheme’ of one fund selling to another at i
 nflated prices\, without the check of a strategic buyer. On paper\, circ
 ular deals are even more problematic\, as the involved parties are relat
 ed or sitting on both sides of the negotiation table. This panel will id
 entify the types of transactions and the fact patterns that should trigg
 er the enhanced scrutiny of a deal lawyer\, and it will discuss possible
  ways to properly address these issues.\n
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