H1 2021 Secondary Market Overview
Our H1 2021 Secondary Market Overview provides insights on the market trends shaping the asset class in the first half of this year.
Our H1 2021 Secondary Market Overview provides insights on the market trends shaping the asset class in the first half of this year.
Key findings for H1 2021 include:
Market volume
2021 is on track to exceed 2019’s record volume of $85 billion as mid-year transactions reached approximately $50 billion.
Pricing
Pricing for LP fund interests is considerably higher with approximately two-thirds of positions sold in H1 2021 trading at a 10% discount or better.
GP-led transactions
GP-led transactions have achieved a higher volume in the first half of 2021 (approximately $28 billion) than in any full-year before this.
Market sentiment
Buyers focused on more recent vintages of funds where marks were not fully valued and unfunded commitments had the prospect of being deployed in a cheaper investment environment.