Hannah Zhang

Secondaries advisory mandates are broadening beyond private equity

The Secondaries Investor Advisory Survey 2025 reflects a booming market, with the average reported deal value per adviser rising by $3bn year on year.

How to build a secondaries business

Over the past five years, some private equity shops have shunned their illiquid mentality to launch their own secondaries businesses. Can they give the market’s mega-managers a run for their money?

California's Orange County to cut fund of funds exposure through secondaries sales

The $25bn pension expects to use both the GP-led and the LP-led markets to offload indirect private equity exposure.

LPs and GPs disagree on the most pressing issues

Fundraising pressures, shifting fund terms and the rise of co-investments are reshaping the private funds landscape, says law firm Barnes & Thornburg.

HighVista runs multi-asset CV involving venture assets

CVs are gaining momentum in the VC industry as more venture firms use them to extend ownership of prized assets and generate liquidity for LPs.

Economics will require careful navigating in PE’s 401(k) rush

There can be as many as three layers of fees in structures that give 401(k) participants exposure to private investments.

Secondaries to help normalise PE distributions – study

Distributions as a share of total PE NAV have stayed below average for the past three years and are unlikely to return to normal level this year, according to StepStone research.

401(k) Special: How the executive order could boost plan sponsor confidence in PE

The move could ease some of the litigation concerns facing 401(k) plan sponsors that have already explored adding private equity to their target-date fund offerings.

CD&R said to be in talks with LPs about its next flagship fund

The global fundraising market saw its most muted first half since the covid-19 pandemic with $383.6bn raised in H1 2025, according to PEI data.

One-sided fund terms ratchet up pressure on GPs – Paul, Weiss study

Tailored solutions – which in some cases include giving LPs the right to opt out of specific investments – may be difficult to implement in a commingled fund structure, according to a report.