Hannah Zhang

CDIB Capital Group has closed its first continuation fund as APAC sponsors become more accepting of GP-led deal structures.

Secondaries investors targeting the region have cited geopolitical tensions and asset quality among their biggest concerns for the area this year.

The secondaries market remains the key mechanism for facilitating changes at speed, says Coller Capital's founder and CIO.

Transaction volume last year was significantly up from $114bn in 2023, with both LP-led and GP-led transactions hitting new highs.

The secondaries market in the Asia-Pacific region is expected to grow as market participants become more acceptive of innovative deal structures.

The deals come as Taiwanese insurers cut their private market exposure in anticipation of a new regulatory capital regime set to begin next year.

The Paris-headquartered firm aims to hold the final close for the fund in 2025.

The New York City retirement systems confirmed that four of the five NYC pension funds are involved in the large LP-led secondaries transaction.

NYCRS, which oversees five pensions including NYCERS, has a secondaries programme in place with long-term targets ranging from 10-20% of its total PE portfolio.

The Kodak-Mastercard Foundation transaction suggests further corporate sellers may come to the secondaries market as they go through structural shifts.