Only 18% of LPs say they aren’t active on the secondaries market in any way – 33.5% said the same back in 2007.
Cogent's latest pricing report highlights a thriving marketplace.
Longer holding periods have created ‘a pent-up demand’ for liquidity, Cipio says.
Cogent suggests the private equity secondaries market saw $27.5bn of deal volume last year – and is set to grow by another 10% in 2014.
The Canada-based secondaries broker reckons $36bn of activity took place across asset classes including private equity, real estate, infrastructure and timber.
Setter Capital reached its estimate by extrapolating from the stated activity of 70 large buyers.
Toronto-based secondaries advisor Setter Capital puts secondary transaction volume at more than double the previously reported figure – and predicts that 2013 will be a record-breaking year.
The secondaries market globally is ramping up as large amounts of dry powder strain dealflow, according to an SEI survey.
There’s a vacuum at the smaller end of the secondaries market, argue Capital Dynamics’ Joseph Marks and Sandro Galfetti.
LPs need to be pushing harder to realise value from venture funds that are 10-12 years old, a report suggests – which may be good news for secondaries players.