Investor Report

LPs expanding into more diverse infra secondaries strategies

Narrow discounts mean infrastructure remains a first port of call for secondaries sellers.

4 min read · 12 February 2026

DOWNLOAD: Non-US LPs gain ground among largest secondaries investors in 2025

While the list of the largest known LP commitments remains dominated by US-based investors, it also reflects a growing presence of non-US institutions from Asia and the UK.

2 min read · 22 January 2026

DOWNLOAD: The biggest LP commitments to secondaries funds in 2024

The New York State Common Retirement Fund made the two largest commitments last year to funds managed by TPG and Blue Owl.

2 min read · 03 February 2025

DOWNLOAD: The biggest LP commitments to secondaries funds in 2023

Virginia Retirement System and the State of Wisconsin Investment Board were among the most active LPs making secondaries investments last year.

1 min read · 21 February 2024

DOWNLOAD: Which LPs made the biggest commitments to secondaries funds in 2022?

The top 10 known commitments to 2022-vintage secondaries vehicles totalled $4.77bn, buoyed by ADIA’s whopping $4bn commitment to Ardian’s ASF IX.

1 min read · 09 March 2023

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