New to PE? Try secondary funds, says Cambridge

While some Asian institutions are at the stage of wanting to make direct investments into private equity, many are still looking to make their first move into the asset class, as they seek higher returns than are available in listed markets. Often investors see fund-of-fund managers as the best way to get started in PE investing, but they may be better off with secondary funds, argues a report by Cambridge Associates. FoF managers are viewed as a good bet because they allocate t…