Editor Insights

This isn’t a story about winners and losers

Private markets participants have hypothesised that the GP-led market will shrink when the M&A market picks up. That didn’t happen in 2025.

Credit secondaries is set for another banner year

Credit secondaries ranked second only to PE in deal volume across both LP-led and GP-led transactions in 2025.

Will the total portfolio approach reshape the secondaries market?

Under the TPA an LP’s selling decision is more likely to be driven by opportunistic considerations, rather than breaches of asset allocation targets.

2026: Yet another record year for secondaries volume?

Secondaries professionals share their insights into what they believe will continue to drive market activity in the New Year.

There are some psychics in secondaries

Secondaries Investor reviews predictions made at the start of 2025 to see which expectations became reality.

Spotlight on LPACs in high-profile continuation vehicle spat

Do limited partner advisory committees have any relevance in a world where a sole LP wants to have its day in court?

Secondaries’ catch-22

Another CV failure has recently grabbed headlines. The secondaries market is limited on publicly celebrating its wins.

Are secondaries the answer to impact fundraisers’ many questions?

Why conditions in the private markets impact investing space could finally be ripe for secondaries activity.

The growth spurt of CVs is far from over

With more players and larger funds, the secondaries market is seeing a lot of CVs north of $1bn. The long-term growth of sizeable deals requires significant backing.

A bountiful feast in secondaries’ smaller deal market

Despite a growing number of new entrants, buyers aren’t concerned about increased competition in this abundant part of the market. How long can this last?