In this edition of Secondaries Investor's Second Thoughts podcast, Evercore's global head of private capital advisory Nigel Dawn discusses the outlook for activity in 2026 and the key trends shaping the capitalisation of the market over the longer term.
The pension has been actively pursuing opportunities in the secondaries market over the past few years.
Narrow discounts mean infrastructure remains a first port of call for secondaries sellers.
The $123bn pension system's latest ambitions follow the creation of a GP-led-focused investment role in 2024.
More than 60% of defined benefit pension scheme advisers and trustees expect these pensions to utilise the secondaries market to sell illiquid assets, according to a report from MeltX and Mallowstreet.
Around two-thirds of the over 300 family offices surveyed by JPMorgan have no exposure to secondaries.
A majority of LPs are concerned about the 'influence' retail-oriented partnerships could have on the strategies of GPs, a Coller Capital survey found.
The new questionnaire asks GPs to disclose details including transaction terms and asset returns.
Nearly one-quarter of LPs have seen evidence of CV-on-CVs, according to Coller Capital’s latest investor survey.
While the list of the largest known LP commitments remains dominated by US-based investors, it also reflects a growing presence of non-US institutions from Asia and the UK.