No matter how successful the build out of a secondaries team has been, senior talent staying put is not a given.
The growth of private debt’s secondaries market has been rapid, mirroring to an extent its private equity equivalent. But greater specialisation may become a differentiating feature.
Ardian’s $30bn haul and Evercore’s estimate of $160bn in deal volume suggest the next phase of the market’s development has begun.
While fundraising figures are down from record-breaking numbers in 2024, it would be remiss not to consider the impact of evergreen capital on the market.
The secondaries market anticipated a record year for activity in 2024. Don’t expect a slowdown over the coming 12 months.
Fundraising, deal volume, new entrants and people news piqued readers’ attention in what was another dramatic year for the secondaries market.
Our latest episode of Second Thoughts involved a basket of onions, a permanent marker and two well-respected professionals from Kirkland & Ellis and CVC Secondary Partners.
The Kodak-Mastercard Foundation transaction suggests further corporate sellers may come to the secondaries market as they go through structural shifts.
Hollyport's John Carter and Elm Capital's Etienne Deshormes delve into why the opportunity in the tail-end secondaries market has grown, yet the number of buyers remains concentrated.
Some of the secondaries market's biggest buyers have committed LP capital to Accel-KKR's debut blindpool secondaries fund. What gives?