Insights

Private market liquidity is evolving. As traditional exits remain below historical norms, sponsors and investors are increasingly turning to continuation vehicles and GP-led secondary transactions to unlock value and provide liquidity. This Market Data Snapshot explores what's driving the shift, what it means for market participants, and why capital planning has become as important as exit planning.

Private markets have historically required investors to accept longer holding periods. In return, they expect more controlled exits and consistent value creation. However, that expectation is now being tested. Over the past 18 to 24 months, private equity markets have shifted. The number of potential sellers now exceeds the number of natural buyers. Distributions have slowed, DPI has declined, and assets are remaining in portfolios longer than expected. This situation results