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It’s instructive to see the evolution of the market, including various ways to provide liquidity to investors in older funds, even when some more traditional exit paths are closed.

Around 14% of GP-led market volume in the first half involved growth and venture capital, which was up markedly from the first half last year, according to Lazard’s half-year secondary volume report.

The pension fund, which held its biweekly board meeting October 3, said that it would commit $750m to its private equity portfolio.

Investors include high-net-worth individuals, family offices and registered investment advisers.

The US-based mid-market specialist launched its 12th PE flagship in December with a $750m target, according to pension documents.

For Thoma Bravo and other technology-focused private equity managers, a key source of liquidity today is more active strategic buyers.

Private equity AUM is expected to double in the next five years to reach $270bn, co-heads David Sambur and Matt Nord said at Apollo’s 2024 Investor Day.

Tokenised secondaries funds are a great match for first-time investors in private markets, says Securitize co-founder Jamie Finn.

The sovereign wealth fund will likely have to increase its commitments to the asset class to $1.5bn in FY2025.