LP Sales

Volatility, new entrants and increased specialisation elevated the secondaries market to new heights in 2025.

Two buyers have lined up on the deal run by HarbourVest’s publicly listed investment trust, which is generating net proceeds of $300m from the sale, Secondaries Investor has learned.

Secondaries Investor reviews predictions made at the start of 2025 to see which expectations became reality.

Former Blackstone dealmaker Mustafa Siddiqui’s firm, which launched in January, completed its first CV with K1 Investment Management and has since made three further investments, Secondaries Investor understands.

Secondaries has become a popular portfolio management tool for large US endowments like Yale and Harvard.

The sale included a core portfolio as well as another bundle of fund interests offered to buyers, Secondaries Investor understands.

The ‘structural dislocation’ in the APAC secondaries market will create opportunities for dedicated players, Aquilius’ new head of PE secondaries tells Secondaries Investor.

Belgian holding company Groupe Bruxelles Lambert has confirmed its unit GBL Capital will no longer make new commitments as it secures a dozen transactions.

The firm, which has opened an office in Hong Kong, closed at least five such transactions in the region this year, according to Jason Yao, head of Greater China.

Endowment sales ticked up in the first half of this year to around 15% of overall LP sales, according to Campbell Lutyens’ half-year volume report.