Case Studies

Secondaries Fund FX Hedging

09 October 2026

Summary

A USD-denominated secondaries fund manager with a complex investment structure and no existing FX hedging program turned to Validus to:

Assess FX exposure at both fund and underlying asset levels.
Quantify the impact on returns and identify where FX risk exceeded acceptable levels.
Develop a tailored hedging strategy balancing return protection, cost and liquidity risk.

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Secondaries Fund FX Hedging

Summary

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