Secondaries have under-performed the All Funds index across all timeframes under review, according to the LP association.
Several Asia-related deals have given secondaries participants in the region reasons to be optimistic.
Canada's largest pension fund has used preferred equity in a transaction that helps the Asia-focused buyout firm with its Fund V, Secondaries Investor has learned.
The San Francisco-based fund of funds manager will invest the bulk of capital in Asia-focused funds, while maintaining capital to make co-investments or secondaries transactions.
The $1.9trn investor wants to mitigate the J-curve effect in the first three years of its private equity programme.
A 'flood of capital' in secondaries has pushed up valuations for flow names, according to the investment firm's Asia-Pacific private equity co-head.
Stakes in Clayton, Dubilier & Rice's 2008-vintage fund traded at a 15% premium to NAV, according to data compiled by Palico.
The firm expects to have raised around $1.5bn by October for its latest fund of funds that can invest up to 30% in secondaries and direct co-investments.
Shunsuke Tanahashi joined the global investment manager in April from secondaries advisory firm and placement agent Ark Totan Alternative.
Lydia Hao joins the asset manager in Hong Kong and will focus on primary funds, secondaries and co-investments.