Commentary

Semi-liquids’ valuation conundrum

Apollo chief executive Marc Rowan’s comments this week point to a messy situation involving three of private markets’ hottest trends.

CVs are not struck out of 401(k) plans

While the US Department of Labor’s March proposal flagged CVs as an area of concern in 401(k) plans, it should not be taken as a signal to rule them out.

Diversification at the fore of fundraising

Four debut strategies – including three focused on single-asset CV investments – ranked among the top 10 fundraises in Q1 2026. As LPs seek diversification, expect to see more of these funds drive figures.

The alignment issue

Secondaries Investor will launch its inaugural Global Market Survey next week. While there’s agreement on the market’s future growth, there are diverging views on alignment.

Better to keep than pass the parcel – the timely case for CVs

Critics argue CVs entrench managers or delay inevitable exits. However, structured with transparency and fairness, these funds align interests rather than obscure them, writes AEA Investors’ and Painswick Capital’s John Garcia.

An AI-sized bump in VC secondaries’ rebound

AI-driven tech disruptions have raised questions over the sustainability of the recent pricing recovery in venture secondaries.

GPs’ next path to fundraising and liquidity

A live deal by Carlyle is taking the concept of structured solutions to another level.

Middle East’s fundraising oasis awaits GPs who are willing to commit

Managers who double down on the region and serve investors’ needs will stand better chances of harvesting success.

Secondaries’ most methodical sellers: the buyers themselves

A number of secondaries players have brought sales to market over the past 15 months – what sets them apart from other LPs is their disciplined approach to selling.

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.