Infrastructure

A new world order is expected to reshape the private markets opportunity set over the next five years.

Secondaries Investor launches its inaugural Global Market Survey to map the market, its drivers and the changing nature of the asset class.

The programme is one of the largest infrastructure secondaries platforms raised and follows Blackstone Strategic Partners’ $5.5bn fund close in August.

The fund has increased its secondaries budget to capture opportunities arising from market uncertainty, says private equity head Yasuyuki Tomita.

Geopolitical tensions and liquidity strains could lead to a 50% year-over-year volume increase.

While the firm missed its $1bn target, the vehicle was almost double the size of its predecessor which closed on $456m in 2019.

The sovereign wealth fund deployed significant capital into secondaries opportunities across private equity and infra last year.

The firm this week said it had raised $5.5bn for the market’s largest infra secondaries fund.

Full-year deal volume could reach as much as $230bn, according to the investment bank’s estimates.

Just 17 buyers accounted for nearly 70% of total secondaries volume in the first half, according to a report by the advisory firm.