A transaction whereby an existing investor transfers units or shares in a Vehicle directly to another investor (either a new investor, or one already invested in the Vehicle), based on pricing and terms agreed between the two parties, without the occurrence of new share/unit issue or redemption by the Vehicle itself.
Global Definitions Database
Secondary Trade
Source: Global | Date: 29 April 2020 | ID: D0366 | Version: 8
Related
Investment
A discrete asset or group of assets held for future income, appreciation, or both and tracked separately.
Offer price
The amount that an investor must pay (relative to NAV) if it wishes to subscribe to a