In 2024, secondaries grew with evergreen products, GP-led restructurings, and innovation in structured solutions. In 2025, higher deal volumes and asset-specific strategies are expected to drive further growth.
We highlight key features of the newly registered interval fund, which will combine public growth investments with private-market exposure, including secondaries and co-investments.
Neuberger Private Markets Access Fund, a $2.5 billion tender offer fund targeting small- and mid-cap companies, allocated 17% of its capital to GP-led secondaries as of June.
This Ropes & Gray podcast discusses how recent litigation around EMG's single-asset CV underscores complexities and conflicts inherent in GP-led transactions.