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It is important to be able to flex between traditional LP secondaries and GP-leds, say Fort Washington Capital Partners managing directors Rob Maeder and Steve Baker.

With so many GP-led deals coming to market, activity drivers vary in key markets, but demand is struggling to keep up, say LGT Capital Partners’ partner and co-head of secondaries André Aubert and partners Andrew DiGeronimo and Brooke Zhou.

What seems like a bold prediction at first, may well be a conservative estimate, writes Whitehorse Liquidity Partners managing partner Yann Robard.

While significant capital has been raised to pursue the flourishing GP-led secondaries opportunity, supply/demand fundamentals remain highly attractive, says Barry Miller, partner in the secondary solutions group at Ares Management.

Interest in GP-led transactions is surging, but investors should maintain a holistic view of the secondaries market, say Sixpoint Partners’ Shawn Schestag and Andrew Gulotta, partners in the firm’s secondaries advisory business.

GP-led secondaries join direct investments, co-investments and fund commitments to gain differentiated exposure to the asset class, say Jeff Hammer and Paul Sanabria, global co-heads of secondaries at Manulife Investment Management.

As supply outstrips demand, GP-leds can prove compelling for secondaries buyers with the right strategy, say Neuberger Berman’s Tristram Perkins, global co-head of secondaries private equity; Frank Guglielmo, principal; and Victor Ko, principal.

Favourable conditions are spurring the country’s private equity industry into the next stage of development, say NSSK’s Jun Tsusaka and Shohei Akiyama.

Structural changes in Japanese society are driving private equity dealflow among founder-owned businesses and corporate carve-outs, say Atsushi Akaike and Daisuke Takatsuki at CVC Japan.

The fragmented Japanese waste management industry represents a compelling private equity opportunity, say J-STAR principal Masayoshi Nakajima, manager Hisato Iwamoto and managing partner Hideaki Sakurai.