Single Assets

The vehicle, which surpassed both its $1bn target and its $345m predecessor, benefited from LPs’ increased sophistication around CVs, Carlyle AlpInvest’s Julian Rampelmann says.

Investors are using secondaries to unlock liquidity, retain high-conviction assets and reposition platforms for growth.

Ahead of first-half volume reports, secondaries advisers share their views on what the market can expect in H2 following the latest wave of macro volatility.

There’s reasons on all sides to settle on market practice when it comes to continuation vehicle guidance – lest regulators decide it for you.

Secondaries buyers are increasingly asking advisers to source fund financing for CVs to optimise returns, according to a speaker at the European Fund Finance Symposium.

The industry body’s prior guidance was ‘silent on a lot of things’, chief executive Jennifer Choi tells Secondaries Investor.

The deal gives Plaza more time with StackAdapt amid AI disruptions, with the firm’s investment considered one of the high-returning Canadian venture deals of all time.

Painswick Capital views single-asset continuation vehicles as a PE business and has built its firm around that thesis, founder John Garcia and partner James Powers tell Secondaries Investor.

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.

Evercore and HEC Paris’s fifth CV performance study includes 396 CVs formed between 2018 and 2024, a significant increase on the 140 funds analysed in the inaugural report.