Secondaries

Secondaries fundraisers find success through specialisation.

Looking at turnover rates in other asset classes – such as housing – can offer a window into the growth potential of the secondaries market, says Nick Lawler, head of secondaries at Churchill Asset Management.

Continuation vehicles can provide a compelling opportunity to be creative about capital formation, say PJT Partners’ Gordon Appell and Johanna Lottmann.

Average bids for second-hand stakes in private debt funds rose to their highest point since at least 2017 in H1 2024.

The market’s largest legal advisers worked on more than $800bn of transactions last year, marking their second busiest annual period.

As the secondaries market matures, the private wealth channel is increasingly likely to embrace its potential, says Shane Feeney, global head of secondaries at Northleaf.

Industry-wide transaction volumes are on track for a record-breaking year as demand for liquidity remains strong, says Adam Graev, managing partner of CVC Secondary Partners.

The supply/demand imbalance in Asia-Pacific suggests significant growth potential in its secondaries market, say Bastian Wolff and Christian Keiber, co-founders of Aquilius Investment Partners.

Momentum in the secondaries market has resulted in creative solutions across asset classes, say Sijia Cai and Leor Landa, partners in the investment management practice at Davis Polk & Wardwell.