Editor Insights

The road to secondaries market growth is paved with ire and admiration, as attendees at NEXUS 2025 heard this week.

The biggest names in the secondaries market will gather in Florida at PEI Group’s NEXUS 2025 conference next week to map out the key trends that will shape the market in the year ahead.

The word ‘record’ is now synonymous with 2024 in the secondaries market. Some have been left disappointed with how they were compensated.

There have been two recent instances of continuation funds falling by the wayside in favour of M&A. In some instances, this can cause real headaches.

The GP-led secondaries market is continuing its growth spurt – both in terms of volume sought and new entrants. But there’s no guarantee that everyone will succeed.

CFOs of private markets managers discussed at a recent event the challenges – and opportunities – they face in light of the explosive growth of the secondaries market.

No matter how successful the build out of a secondaries team has been, senior talent staying put is not a given.

The growth of private debt’s secondaries market has been rapid, mirroring to an extent its private equity equivalent. But greater specialisation may become a differentiating feature.

Ardian’s $30bn haul and Evercore’s estimate of $160bn in deal volume suggest the next phase of the market’s development has begun.

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.