Private credit

Credit secondaries: What’s in it for buyers?

A valuable product at a discount, eliminating the J-curve and a chance to exploit inefficiency are among buyers’ priorities.

The next step for GP-led deals

PEI Group’s latest GP-led Secondaries report uncovers what comes next for this burgeoning corner of the market.

Definition of secondaries will evolve as market dynamics shift: Dawson’s Robard

LPs are taking an increasingly proactive approach to the secondaries market, while CVs will represent 10-20% of PE exits, managing partner Yann Robard said at NEXUS 2026.

New entrants unlock further opportunities in the secondaries market: Apollo S3’s Lessar

While Apollo S3 is open to making acquisitions, it is likely to continue to build its secondaries platform via organic growth, co-head Steve Lessar said at PEI’s NEXUS conference.

Carlyle AlpInvest seeks to raise $60bn as part of fundraising supercycle

Carlyle is looking to raise $200 billion-plus of capital inflows by 2028, with ambitious targets also set for private equity and global credit.

GP-led credit market explores different deal and return opportunities as growth continues – NEXUS

The ability to select assets and ensure alignment with GPs will support the performance of credit GP-led deals, according to Olga Kosters, head of credit secondaries at Antares.

Secondaries’ 2026 blueprint

From increased LP selling to a new normal for CVs, here are some of the events that attendees at PEI Group’s NEXUS 2026 conference expect to see in the secondaries market this year.

Younger, high-quality portfolios gain ground in LP-led market – NEXUS

‘Today’s market for secondaries has evolved to a market of asset selection and cherry picking,’ Ardian’s Wilfred Small told attendees at PEI’s conference.

2026 should mark record year for exits and secondaries volume – Blackstone’s Perry

Exit volumes will move assets’ cashflows forward allowing secondaries buyers to offer higher prices, which in turn should pull sellers into the market, Blackstone’s global head of Strategic Partners said at Nexus 2026.

Secondaries’ next iteration: market capitalisation in 2026 and beyond

In this edition of Secondaries Investor’s Second Thoughts podcast, Evercore’s global head of private capital advisory Nigel Dawn discusses the outlook for activity in 2026 and the key trends shaping the capitalisation of the market over the longer term.