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The GP stakes industry is now old enough that LPs can demand track records and not simply projections, says Robert Hamilton Kelly, global co-head of Petershill strategies at Goldman Sachs.

Next-generation managers may be an acquired taste for asset owners, but the potential for alignment can create attractive GP opportunities, according to Wafra’s Adel Alderbas and Gustavo Cardenas.

Japanese small and mid-market businesses have historically eschewed M&A strategies, but as this changes, new roll-up opportunities are emerging, say J-STAR’s Tatsuya Yumoto and Hiromoto Kida.

In the mid-market, effective GP stakes strategies prioritise thoughtful growth while staying true to a firm’s core values, explains Brad Pilcher, partner at Bonaccord Capital Partners.

Now that continuation funds are providing fresh liquidity options, LPs are waking up to the appeal of GP stakes investing, according to Proskauer partners Jennifer Dunn, Grant Darwin and Ryan Carpenter.

GP stakes deals are inherently bespoke and require tailoring to the specifics of each transaction, say Fried Frank Harris Shriver & Jacobson’s Randi Lally and Ariel Zell.

The scale, resources and influence of GP stakes funds enable them to address issues that many mid-market GPs may not be able to tackle alone, say Hunter Point Capital’s Conway Bate and Jana Wayne.

Surging interest in private assets is creating new data management challenges, but AI is helping asset allocators and managers drive efficiencies and uncover insights, explains S&P Global Market Intelligence’s Chris Sparenberg.

In order for savvy investors to capitalise on co-investment opportunities, there are many commercial, legal and advisory considerations they need to get smart on, say Ropes & Gray’s Michael Gilbert and HarbourVest’s Seth Palmer.

Offering unique access to trophy assets, continuation vehicles could form a core part of any investor’s secondaries strategy, says Nick Lawler, head of secondaries at Churchill Asset Management.