The Private Equity Secondary Market

Private equity’s secondary market has grown and evolved at an unprecedented rate over the past decade, tracking the rapid expansion of the primary market. Secondary transaction volumes set a new record in 2017, and the market is expected to remain bouyant for some years to come.

This paper provides an overview of the market: its key actors and their motivations, and recent developments in pricing, volumes, and transaction types. It also provides Coller Capital’s comments on current market trends.

Specific topics include:

• The evolution of the market
• Why investors commit to secondary funds
• Why investors sell assets in the secondary market
• Types of secondary transaction
• Pricing development and the current environment

The paper is available to download here.