Private Secondary Markets
Partially due to increased compliance and reporting obligations enacted in the Sarbanes-Oxley Act of 2002, private secondary markets began to emerge, like SecondMarket. These markets are generally only available to institutional or accredited investors and allow trading of unregistered and private company securities.
In private equity, the secondary market (also often called private equity secondaries or secondaries) refers to the buying and selling of pre-existing investor commitments to private equity funds. Sellers of private equity investments sell not only the investments in the fund but also their remaining unfunded commitments to the funds.
Read more about this topic: Secondary Market
Famous quotes containing the words private, secondary and/or markets:
“Remember that you are an actor in a drama, of such a part as it may please the master to assign you, for a long time or for a little as he may choose. And if he will you to take the part of a poor man, or a cripple, or a ruler, or a private citizen, then may you act that part with grace! For to act well the part that is allotted to us, that indeed is ours to do, but to choose it is another’s.”
—Epictetus (c. 55–135 B.C.)
“The prime purpose of being four is to enjoy being four—of secondary importance is to prepare for being five.”
—Jim Trelease (20th century)
“When the great markets by the sea shut fast
All that calm Sunday that goes on and on:
When even lovers find their peace at last,
And Earth is but a star, that once had shone.”
—James Elroy Flecker (1884–1919)