Secondaries

The strategy’s popularity among evergreen vehicles could make it a shoo-in with US retirement plans.

CIO Nils Rode tells Secondaries Investor that CVs could eat into buyout dealflow over the next decade.

Private credit GPs are increasingly using CVs to become ‘better fund managers’, according to Pantheon’s Rakesh Jain.

The firm’s Keystone strategy provides bespoke offerings to alternatives managers at the management company, fund and asset level.

Distributions as a share of total PE NAV have stayed below average for the past three years and are unlikely to return to normal level this year, according to StepStone research.

The firm’s half-year activity update also disclosed launch plans for future secondaries vehicles.

Secondaries volume hit an estimated $105bn in the first half, according to Greenhill’s H1 2025 Global Secondary Market Review.

The firm confirmed it had closed a $1.9bn CV-on-CV process for isolved this month.

The first half of the year saw 38 continuation vehicles close, with several more launching or being eyed, according to data gathered by Secondaries Investor.

More international investors are looking to India as China becomes more localised, according to research from the Global Private Capital Association.