Summary
This document is a report detailing the performance of the secondary market in fiscal year 2024, highlighting a record transaction volume of approximately $160 billion. This figure marks a significant increase from previous years, establishing 2024 as the most active year for secondary transactions. The report outlines the dynamics of the market, noting a 41% year-over-year growth in the LP-led segment, driven by liquidity pressures and favorable pricing conditions. Various participants, including pension funds and family offices, have increasingly utilized the secondary market for portfolio management. The GP-led market also reached new heights, supported by the adoption of innovative structures and increased retail participation. The report anticipates continued growth into 2025, fueled by rising demand for liquidity solutions and the expansion of secondary strategies across various asset classes. Overall, the secondary market is positioned as a vital tool for capital formation and portfolio management.
