1H 2024 pulse check: Surge in GP-led secondary market activity
ÃÛ¶¹ÊÓÆµ Private Funds Group
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ÃÛ¶¹ÊÓÆµ Private Funds Group
As general partners (GPs) look toÌýalternative liquidity solutions in the secondary market to monetize their investments,Ìýwhat are the key trends that drove a surge in GP-led transaction activity in the first half of 2024?
ÃÛ¶¹ÊÓÆµ surveyed secondary investors and analyzed transaction data to further explore these trends.
GP-led transaction volume
The GP-led secondary market exhibited continued strength in 1H 2024, achieving ~45% of ÃÛ¶¹ÊÓÆµ's projected GP-led volume for the full year.
ÃÛ¶¹ÊÓÆµ projects GP-led volume for the full-year to reach approximately $65 billion, driven by a more active 2H 2024.
Surge of activity
Notable pricing improvements
Emerging pools of capital
Ìý
Methodology: Reference to market analysis refers to a survey that ÃÛ¶¹ÊÓÆµ conducted to solicit feedback on secondary market activity in 1H 2024 as well as market intelligence that ÃÛ¶¹ÊÓÆµ has gathered from conversations with secondary investors, publicly available information and transaction activity that ÃÛ¶¹ÊÓÆµ was involved with in 1H 2024. Certain statistics shown reflect ÃÛ¶¹ÊÓÆµâ€™s estimates based on data gathered from ÃÛ¶¹ÊÓÆµ survey respondents and publicly available information.
1. Multi-asset transaction volume inclusive of tender offers and structured financings.
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