Portfolio sales by limited partners reached about $120bn, remaining the largest driver of activity. At the same time, transactions led by private asset managers jumped roughly 50% to $106bn, fuelled by the continued rise of continuation funds. While buyouts continued to account for the bulk of secondaries activity, Evercore said private credit, infrastructure, and venture strategies are playing a growing role. Private credit accounted for about 11% of general partner-led secondaries volume. The expansion reflects the impact of higher interest rates, which have slowed exits and cash distributions, forcing both investors and fund managers to seek alternative routes to liquidity. Evercore noted that some managers have begun creating so-called 'CV-squared' structures, rolling assets from one continuation vehicle into another. Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening....
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