Secondaries deal volume reached $42 billion in 2014, representing a 50 percent increase from 2013, according to a study from Cogent Partners.
The results are in line with Cogent’s prediction that secondaries market volume would experience double-digit growth in 2014. The surge in volume was partly driven by large transactions. There were 12 transactions of $1 billion or more last year, which accounted for 39 percent of total market volume, compared to just 19 percent in 2013.
Limited partner portfolio sales accounted for roughly 75 percent, or $31 billion, of secondaries transactions last year, Cogent revealed. Non-traditional secondaries deals made up the remainder including GP-led transactions which made up 13 percent and ‘other’ deals such as direct secondaries and spin-outs, which represented 12 percent of total volume.