The New York State Common Retirement Fund made the two largest commitments last year to funds managed by TPG and Blue Owl.
Over 75% of manager respondents say it is likely or highly likely they’ll look to the secondaries market across 2025 and 2026 compared with 45% in PJT’s 2023 survey.
Volume from single asset deals grew by more than 80% year-on-year, accounting for more than half of all GP-led deal volume in 2024, according to Campbell Lutyens' full-year secondaries report.
LP-led sales made up 52% of the record $152bn of secondaries volume seen last year, according to Lazard's latest market report.
Transaction volume last year was significantly up from $114bn in 2023, with both LP-led and GP-led transactions hitting new highs.
Fundraising for secondaries strategies last year reached just under $100bn, falling short of 2023’s record haul for the sub-sector.
The largest secondaries vehicle to close in 2024 was more than double the size of the runner-up.
Coller Capital's latest barometer has found that most investors see the main purpose of continuation funds as providing an alternative to selling assets at a low valuation.
The firm defines RE deals as any transaction where private equity is exchanged in the capital stack and where the operator maintains control over the asset.
Download our latest list of the continuation funds that were known or disclosed during the first nine months of this year.