Private equity

Two new secondaries-focused firms have already launched in 2025.

Rob Campbell, head of North America at ICG’s Strategic Equity unit, outlines elements for a successful CV when just one asset is involved and why such deals differ from co-investments.

Human resources is one of the biggest issues restricting the growth of the secondaries market, sources have long told Secondaries Investor.

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.

There have been cases when continuation funds have been ‘misused and overused’, according to Teia Merring, senior investment director at USS and chair of ILPA.

The secondaries market in the Asia-Pacific region is expected to grow as market participants become more acceptive of innovative deal structures.

Mid-Market Secondaries III, the successor to co-investment and secondaries-focused vehicle Select Opportunities Fund II, reached its target.

Quilvest Secondaries Fund will primarily target GP-led transactions, though it will include a pocket for shorter duration opportunities, Secondaries Investor understands.

The Paris-headquartered firm aims to hold the final close for the fund in 2025.