News & Analysis

Around 40% of LPs expect continuation vehicle activity to continue growing, with a number opting to take a more concentrated approach to this corner of the market, according to Coller Capital’s latest Barometer report.

Allianz Global Investors’ co-heads of infrastructure funds and co-investments Maria Aguilar-Wittmann and Tillman Mueller have identified ‘a lot of attractive opportunities’ in the market, which grew to $20bn-$25bn of volume in 2025.

Glouston Capital Partners’ focus on the US will complement the firm’s geographic footprint in the secondaries market, Flexstone CEO Eric Deram tells Secondaries Investor.

JST senior manager Keigo Yumino says the university endowment’s infrastructure portfolio is ‘fully diversified’ – but personnel shortages remain a challenge in building its direct investment capabilities.

Anton Orlich, architect of the US pension giant’s PE turnaround, will now also be responsible for its private credit, real estate, infrastructure and other alternative programmes.

The asset manager’s small-deal-focused secondaries unit is seeking to write cheques of between $100,000 and $10m.

The CV includes follow-on capital to ‘capitalise on a strong pipeline already in place’, according to a statement shared with Secondaries Investor.

The manager has secured more than $650m across a global program focused primarily on GP-led secondaries but seeded with an LP-led fund portfolio.

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.

Market participants have a keen eye on fees and expenses related to GP-led deals given many LPAs were not drafted with these transactions in mind.