March 04, 2021

The secondary private market has matured and grown substantially over the past two decades from a niche market exhibiting scarce liquidity and steep discounts to a functional market with steady volumes and numerous participants.  It now represents an important and mainstream component of the overall private market asset class, offering decent risk adjusted return profiles and defensive attributes.   


This paper is an introduction to private market Secondaries that aims to answer the question “What are Private Market Secondaries?” and discuss the size of the secondary market, motivations of Secondary sellers, reasons for considering investing in Secondary investments and implementation options.

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