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There is now proof of concept that institutional and retail products can successfully be managed side by side, say Davis Polk’s Andrew Ahern, Oran Ebel, Christopher Healey and Leor Landa.

In this episode of our Second Thoughts podcast, senior leaders from Lexington Partners, Proskauer and StepStone Group discuss the burgeoning space and the impacts of capital-raising efforts there on the secondaries market.

In the latest edition of our Second Thoughts podcast, Pomona's chief executive Michael Granoff and Proskauer partner Galen Lewis discuss what's driving LPs to the secondaries market and how uncertainty is impacting investment decisions.

Despite a record year for fundraising, growth in the secondaries market has been hampered by a lack of liquid capital.

In episode four of the Decade of Secondaries Investing podcast miniseries, sponsored by Ares Management, Dawson Partners and Proskauer Rose, we look at whether the region's secondaries market can continue its winning streak.

The growth of GP-led secondaries represents a long-term, structural change within private equity, write Paul Sanabria and Jeff Hammer, global co-heads of secondaries at Manulife Investment Management.

Secondaries investors can find unparalleled alignment in GP-led transactions with lower mid-market managers, says Christiaan van der Kam, head of secondaries at Schroders Capital.

As GP-led deals have evolved, so too have the terms designed to create alignment of interest between all parties, say Proskauer’s Jordan Hurwitz and Natalie Scott.

More opportunities are opening up for buyers as GPs turn to the secondaries market for capital, but they must be selective if they are to achieve strong risk-adjusted returns, says Nate Walton at Ares.

Access to trophy assets through transparent processes will underpin GP-led growth, say Evercore’s Alex Longden and Fred Stonell.