Executive Summary
The GP-led market continues to go from strength to strength. 2025 saw another record-breaking year in GP transaction volumes, making GP-led transactions today the fastest-growing segment of the secondary market.
At our recent AGM in April 2026, we convened a discussion with senior industry representatives spanning advisory, GP execution, and both equity and credit secondaries investing, to explore the evolution of GP‑led continuation funds across private equity and private credit. This article brings insights from these participants and others on these fast-growing segments, and includes:
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- Michael Schad, Partner, and Head of Credit at Coller Capital
- Martin Fleisher, Partner, Investment at Coller Capital
- Ed Goldstein, Partner, CIO, Coller Credit Solutions at Coller Capital
- Paul Lanna, Partner, Investment at Coller Capital
- Katrina Liao, Partner, Investment at Coller Capital
- Nigel Dawn, Senior Managing Director at Evercore
- Douglas Hallstrom, Partner, Managing Director at Advent
In 2026, CVs aren't just an emergency exit, they're the preferred exit. An accepted option for investors everywhere.
Jeremy Coller
Chief Investment Officer and Managing Partner
