Commentary

Thought leadership from the secondaries sectorโ€™s leading voices including legal experts, industry veterans, asset class specialists (from real estate to private equity) and academics.

Weโ€™ll hear the latest on the marketโ€™s innovation, capitalisation, tailwinds and headwinds at PEI Groupโ€™s Nexus 2026.
Pricing on VC secondaries is less attractive now, says Schroders Capital venture chief Steven Yang.
Will we finally see a wave of IPOs this year, or will VC GPs have to turn to the secondaries market to deliver liquidity to their investors?
Holding on to laggard assets may conflict with the core objective of PE: maximising time-weighted returns for LPs, writes Adam Spence, of Partners Capital.
Pressures in private equity continued in 2025, with fundraising dipping by 17% year on year in 2025.
Caspar Berendsen, รlvaro Rosado & Robert Perry, Netley Capital
Sovereign funds and insurers are using third-time-round fund stake transactions as part of their portfolio management processes, write Caspar Berendsen, รlvaro Rosado and Robert Perry.
Private markets participants have hypothesised that the GP-led market will shrink when the M&A market picks up. That didnโ€™t happen in 2025.
Image depicting the tracking of profit.
EQT's acquisition of secondaries pioneer Coller Capital comes as the market for LP stake sales and continuation funds hits new heights.
PEI awards
Credit secondaries ranked second only to PE in deal volume across both LP-led and GP-led transactions in 2025.
Under the TPA an LPโ€™s selling decision is more likely to be driven by opportunistic considerations, rather than breaches of asset allocation targets.
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