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.
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Famous quotes containing the words private, secondary and/or markets:
“All men, in the abstract, are just and good; what hinders them, in the particular, is, the momentary predominance of the finite and individual over the general truth. The condition of our incarnation in a private self, seems to be, a perpetual tendency to prefer the private law, to obey the private impulse, to the exclusion of the law of the universal being.”
—Ralph Waldo Emerson (1803–1882)
“Readers are less and less seen as mere non-writers, the subhuman “other” or flawed derivative of the author; the lack of a pen is no longer a shameful mark of secondary status but a positively enabling space, just as within every writer can be seen to lurk, as a repressed but contaminating antithesis, a reader.”
—Terry Eagleton (b. 1943)
“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)