Madeleine Farman
Madeleine Farman is the editor of PEI Group’s Secondaries Investor title based in London. Prior to joining PEI, she had covered private equity, private capital and advisers associated with the industry for other newsrooms and publications since 2016. Originally from New Zealand, Madeleine began her career in radio in Auckland.
The asset manager’s small-deal-focused secondaries unit is seeking to write cheques of between $100,000 and $10m.
Secondaries Investor’s Next Gen Leaders list 2026 will provide clues about the future of the market’s growth.
Secondaries funds have been targeting around 15-20% of SaaS exposure in LP-leds when previously it was sometimes as high as 40%, attendees heard at PEI Group’s Women in Private Markets Summit North America.
The fund primarily focuses on LP-led deals in the North American mid-market.
A white paper by Carlyle AlpInvest estimates there was $20bn of credit secondaries dry powder at the start of 2026, offering six to nine months of deployment runway at current deal velocity.
Some LPs have expressed scepticism around the return potential of LP-led secondaries, while interest in CVs is heating up.
The pension fund backs single-asset CVs to gain or strengthen relationships with new and existing GPs, investment manager Pravi Prakash tells Secondaries Investor.
In this podcast, senior leaders from Partners Group, Lexington Partners and Davis Polk break down how private wealth demand, liquidity needs and evolving fund structures are accelerating growth in evergreen capital across secondaries.
Senior execs have been working to spell out why secondaries mark-up practices make sense following public scepticism from peers.
GP counsel fees paid by both sides of a deal ranged from zero to around $79,000, according to research by AI workflow automation platform AltConvey.