Research & Data

Most of the volume was driven by large players and transactions of more than $600 million. Energy and real estate transaction volume was down.

The majority of zombie funds focus on North America, with buyout as the main strategy, according to PEI's Research and Analytics division.

Secondaries funds can give UK pension funds quick access to accelerated liquidity, instant diversification and high-quality managers, according to Cambridge Associates.

CVC, Apax and EQT occupied the top spots, while a London-based private equity giant dropped out of Setter Capital's 2015 Q2 rankings.

The proportion of stakes sold by public pension funds tripled between the first half of last year compared with the first half of 2015, according to a report.

The Seattle-based firm noted in its Private Equity Outlook that a general increase in primary private equity investments at high valuations, followed by a market correction, could provide a favourable future entry point.

Tail-end funds sold at an average 10 to 15 percent lower than more recent funds, according to investment bank and secondaries advisory firm Greenhill Cogent.

Healthy private equity distributions could prompt some sellers to hold off from tapping the secondaries market.

The alternative assets specialists has advised on more secondaries deals so far this year than all of 2014.