data snapshot

Declining return expectations, longer deferrals and market volatility are among the factors shaping today's market.

The US overtakes Europe, buyers team up on deals, and energy and VC look primed for a strong 2019, according to the advisory firm's Financial Sponsor Secondary Market 2018 Year-End Review.

Deal volumes so far this year point to a bigger first quarter than last year, according to advisor Triago.

Around $17bn-worth of big processes launched or closed last year, according to Secondaries Investor data.

The lower-risk nature of real estate exposure means sellers are less likely to opportunistically bring $1bn-plus portfolios to market.

Interactive charts showing return expectations, drivers of pricing, use of leverage and other key points from Evercore and Setter Capital's full-year reports.

Last year was the lowest for final closes since 2011.

A total of $54.6bn worth of secondaries deals traded last year, 4.4 times the amount transacted in 2009.

The most recent vintage of secondaries funds is considerably larger than the last, though last year's closes suggest the mid-market may be an exception.

The new secondaries database shows which of the biggest firms are raising.