SecondaryLink

Advisor Insights: What's Next?   SecondaryLink reviews reports from Campbell Lutyens, Evercore, Jefferies, Lazard, PJT Partners, Setter Capital, UBS, and William Blair, outlining secondary market trends for 2026 and beyond. https://lnkd.in/e78vBW8a

Secondaries volume could reach $400 billion by 2030 - William Blair. SecondaryLink breaks down key takeaways from the secondary advisor's latest report. Mike Custar | Quinn Kolberg https://lnkd.in/eErY9YYg

Apogem Capital closes latest secondary fund at $1.43 billion hard cap. The oversubscribed vehicle exceeded its $1 billion target and is more than double the size of its predecessor. Josh N. | Michael Zeleniuch https://lnkd.in/ed8HhRwD

New Vintage Partners closes inaugural fund at $82 million. The New York-based venture and growth equity secondaries firm focuses on later-stage private companies. Charles Jaskel | Ben Slome https://lnkd.in/ezfabPw2

TPG and Allianz lead $350 million investment in Cambridge Mobile Telematics.   The reportedly all-secondary deal also attracted participation from existing backer State Farm.   Citi served as sole placement agent to CMT in relation to the transaction. Moelis & Company served as financial advisor to TPG. Akash Pradhan | William V. Powers | Dr. Nazim Cetin https://lnkd.in/eqHPG3yZ

Apogem Capital, RCP Advisors, and Churchill Asset Management co-lead $405 million CV. The single-asset vehicle extends Align Capital Partners' hold on a legal tech platform acquired in 2023. Advisors on the closed transaction included Baird, which served as placement agent and lead financial advisor. JEGI LEONIS also served as advisor to ACP. Kirkland & Ellis acted as legal advisor to ACP, and McGuireWoods LLP acted as legal counsel to Proceed. Robert W. Baird & Co.'s Capital Solutions team arranged debt financing provided by Apogem, Barings, and Audax Group. https://lnkd.in/erwWHdCC

SecLink Award Winner Announcement: J.P. Morgan Asset Management’s Private Equity Group is officially the Top Mid-Market Secondary Buyer of 2025!   The SecLink Awards recognize leading firms and individuals across private markets secondaries, with winners determined through an open survey of industry professionals. This award recognizes the top secondary buyer focused on mid-market buyout opportunities, highlighting the firm that excelled in sourcing, structing, and executing transactions that advanced liquidity within the mid-market segment.   Thank you to the >3000 professionals who voted and a hearty congratulations to the team entire team at J.P. Morgan Asset Management’s Private Equity Group.   #Secondaries #SecondaryMarket #AlternativeInvestments #PrivateMarkets

📌ICYMI 👀 This month in New Entrants, SecondaryLink mapped the field of players entering or expanding in the secondary market. Click on the links below for a complete overview of what you need to know. 1️⃣ Qualitas Funds targets €100 million for debut secondary fund - https://lnkd.in/eVWjznvV 2️⃣ Molten Ventures expands into secondaries, plans new fund - https://lnkd.in/eVJuU6a2 3️⃣Ardian to launch real estate secondaries platform with Abu Dhabi Investment Authority (ADIA) - https://lnkd.in/eyP4N5QU 4️⃣ HighVista Strategies launches dedicated GP-led secondaries strategy - https://lnkd.in/e3_6TfDy 5️⃣ Petra Secondaries launches with a focus on Latin America - https://lnkd.in/euxFHNxH 6️⃣ Asia Pacific Secondaries launches to target regional opportunities - https://lnkd.in/eUJXEcgb #Secondaries #SecondaryMarket #AlternativeInvestments #PrivateMarkets #NewEntrants

HarbourVest Partners leads L Squared Capital Partners's continuation fund. The single-asset vehicle extends the firm's hold on a precision components manufacturer initially acquired in 2023. Ropes & Gray LLP served as legal counsel to HarbourVest. Evercore served as exclusive financial advisor, while Gibson Dunn acted as legal counsel to L Squared. Randall Hunt | Kyle Dowd https://lnkd.in/eH34weCD

How big do advisors estimate the GP-led secondary market was in 2025?   Campbell Lutyens: $93 billion (41% of total secondaries volume) Evercore: $106 (47%) Jefferies: $115 (48%) Lazard: $116 (50%) PJT Partners: $108 (48%) Setter Capital: $90 (44%) UBS: $104 (47%) William Blair: $110 (50%) Let us know what you expect for next year!