Insights

Private markets have historically required investors to accept longer holding periods in exchange for more controlled exits and consistent value creation. That expectation is now being tested. Over the past 18–24 months, private equity markets have shifted into a condition where the number of potential sellers exceeds the number of natural buyers. Distributions have slowed, DPI has declined, and assets are remaining in portfolios longer than expected. The result is a timing m

When managing investment portfolios for growth-stage companies and private equity-backed firms, understanding the nuances of secondary transactions has become increasingly important. For founders, executives, LPs, and GPs operating in private markets, longer holding periods, delayed exits, and shifting liquidity needs have moved secondaries from a reactive solution to a core component of portfolio and capital strategy. The Role of Secondaries in Investments Secondaries involv