Case | HBS Case Collection | December 2008 (Revised October 2010)

Paul Capital Partners: Secondary Limited Partnership Investing

by David S. Scharfstein

Abstract

This case examines the proposed purchase by Paul Capital Partners of a limited partnership (LP) interest in a private equity fund. Paul Capital has a fund dedicated to buying these "secondary" LP interests. The case is intended as a vehicle for discussing the secondary LP market as well as the valuation of LP interests.

Keywords: Capital; Investment; Private Equity; Valuation; Partners and Partnerships; Interests; Markets; Debates; Financial Services Industry;

Citation:

Scharfstein, David S. "Paul Capital Partners: Secondary Limited Partnership Investing." Harvard Business School Case 209-089, December 2008. (Revised October 2010.)