News & Analysis

Swedish insurer LF eyes move into private debt secondaries

Other European insurance firms, such as NN Group, are also looking at the secondaries market as they work to diversify their illiquid credit portfolios.

Most LPs don’t expect CV activity to decline when exits improve

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.

‘A buyer’s market’: AllianzGI’s growing focus on infra secondaries

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.

Flexstone agrees to acquire Glouston as it accelerates secondaries growth

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.

Japan Science and Technology Agency begins to invest in infra secondaries

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.

CalPERS’ new alts head takes sophisticated approach to secondaries

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.

Argosy doubles fund size with $145m raise

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

Blue Owl leads Veld Capital’s €355m credit CV

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

Partners Group holds first close for latest real estate secondaries strategy

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.

More sectors unlock as buyers slash software exposure targets

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.