Asia-Pacific

The appointment follows the departure of former managing director and head of Evercore’s Asia-Pacific private capital advisory team Shane Gong, who left in January 2025.

The Tokyo Stock Exchange is increasing minimum market capitalisation for companies listed in its Growth Market section to ¥10bn by 2030, which could have knock-on implications for secondaries activity.

Will we finally see a wave of IPOs this year, or will VC GPs have to turn to the secondaries market to deliver liquidity to their investors?

Around two-thirds of the over 300 family offices surveyed by JPMorgan have no exposure to secondaries.

The largest average commitment sizes to GP-led deals ranged between $300m and $500m last year, managing director Darren Schluter tells Secondaries Investor.

LP-led volume saw a 54% year-on-year increase in 2025, reaching $121bn as LPs traded a wider mix of fund quality and accepted larger discounts, a report shows.

GP-led buyers are ’embracing concentration and able to speak for larger portions of transactions than ever before’, global co-head of secondary advisory Scott Beckelman tells Secondaries Investor.

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.

The firm has also made further leadership promotions and created two regional operating committees to ‘further strengthen local leadership’, according to a memo seen by Secondaries Investor.

While fundraising continues to skyrocket, the amount of dry powder available has remained ‘fairly flat’, and more capital is needed for the market to keep pace with demand, Evercore’s Nigel Dawn tells Secondaries Investor.