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The definitive source of private markets intelligence.
2025 Secondaries Year in Review: A $200 Billion Escape Valve Opens Wide
Private markets found their liquidity release valve in 2025. With distributions frozen at post-crisis lows and $2.9 trillion in unsold assets choking the system, the secondary market exploded to over $200 billion in annual volume—transforming from a niche corner of private equity into essential infrastructure for the entire industry.
Dec 29, 20258 min read
Private Credit Secondaries Leader Sees Disruption Ahead
Private credit secondaries are experiencing explosive growth as the broader $1.7 trillion private credit market creates unprecedented liquidity demands, with deal flow surging from $5-7 billion five years ago to $36 billion in 2024. Rick Jain, Partner and Global Head of Private Credit at Pantheon, warns that while opportunities abound, the market faces potential disruption from mounting macroeconomic uncertainty and overconfidence in current pricing.
Jul 12, 20253 min read
Apollo Closes Debut Secondaries Fund at $5.4B
Apollo announced the successful closing of its first equity secondaries fund at $5.4 billion, exceeding its target, according to a press release and Bloomberg's reporting. The fund represents Apollo's expansion into secondhand private equity deals as liquidity challenges mount in private markets.
May 1, 20252 min read
Liz Campbell, CIO of Portfolio Advisors on Middle Market Success
Liz Campbell: Middle market PE offers better value via operational improvement vs financial engineering
Mar 9, 20252 min read
Secondary Market Hits Record $152B as Limited Partners Seek Liquidity
Secondary market volume surges to new heights as GPs leverage continuation funds for trophy assets and LPs seek portfolio liquidity solution
Mar 9, 20252 min read
Private Markets Poised for Rebound Despite Rates & AI Disruption, Pantheon Outlook
Private markets evolve with record secondary volumes, AI-driven infrastructure demand, and growing mid-market focus despite macro headwinds.
Feb 13, 20251 min read
Lexington Partners Names Two New Partners and Co-Chair of Secondary Investment Committee
Lexington Partners promotes two to Partner and names new Co-Chair of Secondary Investment Committee, bolstering leadership team.
Feb 5, 20251 min read
Retail Capital Surge Powers PE Secondaries Toward $185B+ Year, Jeffries Outlook
Secondary market transformation accelerates as volume hits record $162B, driven by institutional evolution and retail capital influx.
Feb 3, 20251 min read
PE Secondary Market Hits $162B as Traditional Exits Slow, FT Reports
PE industry pivots to secondary markets amid exit drought, driving record $162B in sales as investors seek new paths to liquidity
Jan 27, 20251 min read
Infrastructure Secondaries Surge as Private Market Liquidity Crunch Deepens
Infrastructure secondaries emerge as critical liquidity solution amid private market disruption, creating opportunities for strategic buyers
Jan 24, 20252 min read
GP-Led Secondaries Surge as Alternative Exit Strategy, Expected to Hit $105B by 2028
GP-led secondaries emerge as strategic exit alternative amid challenging market conditions, with projected growth to $105B AUM by 2028.
Jan 20, 20252 min read
Podcast Digest | Private Equity Secondaries Market Surges as Investors Seek Liquidity Solutions
Private equity secondaries evolve from distressed sales to strategic portfolio tool, with $200B dry powder driving market transformation.
Jan 11, 20252 min read
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