Weil Private Equity Sponsor Sync

Third Quarter 2026 Issue

We are pleased to share the Q3 2026 edition of Sponsor Sync. This quarter's special issue focuses on secondaries, examining why continuation funds and GP-led transactions have moved from the margins to the center of how sponsors manage liquidity and hold their best assets, along with the pricing data, structuring choices, and regulatory considerations shaping execution. Other articles cover the leveraged finance market, trade secret risk after a dead deal, end of fund life insurance and much more.

Read the Q3 2026 issue of Weil Private Equity Sponsor Sync here.

In This Issue — Q3 2026 ▼ Expand

Special Issue — Secondaries

p. 12 Weil DealVision360 Secondaries Snapshot A data-driven look at evolving LP protections, governance rights and conflict-mitigation trends across 2025 continuation fund deals. p. 14 The Rise of Private Credit Secondaries: What Every Sponsor Needs to Know Why private credit secondaries execute more cleanly than PE deals, and what sponsors should watch even as non-sellers. p. 16 Secondaries at Scale: Why Continuation Funds Have Entered the Mainstream How continuation funds moved from niche to mainstream, and why process and conflict management are paramount. p. 18 Leverage in Continuation Funds: A Growing Tool with Increasing Scrutiny How fund-level debt reshapes GP economics and LP risk, and the five key risks LPs should assess. p. 21 The Maturing GP-Led Market: HALO Assets, Credit Secondaries and Beyond Moelis & Company's Jeff Hammer and Kyle Reidy join Weil's Trey Muldrow on where GP-led is headed next. p. 23 Launching a Secondaries Platform: What Fund Sponsors Need to Know A practical guide to structuring and underwriting a new secondaries strategy. p. 25 GP Stakes for Sponsors: What the Product Is and How to Assess Fit Common misconceptions about GP stakes, and how structure, valuation and timing drive outcomes. p. 28 Buyer Beware: Secondaries May Trigger Unexpected Regulatory Filings Even without a change of control, HSR, merger control and FDI filings can catch sponsors off guard. p. 30 Partner Perspectives: The Role of RWI in Secondaries Transactions Lockton on how representations and warranties insurance is pricing and structuring in a maturing secondaries market.

Market Update

p. 2 Leveraged Finance Market Update Q2 2026 loan and bond market data, the retreat in sponsor-backed activity, and what's ahead of the 2028 maturity wall. $224B Q2 loan volume · $208.5B due in 2028 · 73% PE-backed p. 5 Weil Family Office Forum 2026 A recap of Weil's inaugural Dallas forum, with survey data on family office transaction and sector interest.

Perspectives & Analysis

p. 6 Defence as an Emerging Asset Class in Europe and Germany The case for defence as a structural European growth market, and the FDI and regulatory hurdles sponsors need to plan for early. p. 9 Slaying Zombies and Busting Ghosts — End of Fund Life Insurance How a new insurance product lets sponsors dissolve "dead but not dissolved" funds years ahead of schedule. p. 10 When Deals Die: Trade Secret Risk in Busted Transactions What buy-side and sell-side parties should do when a transaction collapses after diligence is exchanged. p. 32 Glenn's Corner: The Liability Shield as Applied to the Fiduciary Duties of Entity Managers and General Partners Comparing Delaware and Texas law on whether individuals behind a corporate GP or manager can be held personally liable.

Chris Machera on Sponsor Sync, the embodiment of deep market knowledge and turning insights into outcomes

What Is Weil Private Equity Sponsor Sync?

Weil Private Equity Sponsor Sync is a recurring thought leadership publication from Weil's Private Equity practice that provides market updates, legal analysis and practical guidance for private equity sponsors, portfolio companies and deal professionals.

Each issue covers developments across M&A, financing, regulatory change, liability management, governance, sector trends and sponsor-relevant deal structures. The publication brings together perspectives from Weil lawyers and market participants on the issues shaping private equity transactions and portfolio company strategy.