Secondaries

Private credit secondaries are growing rapidly, with the strategy’s appeal extending beyond discounts, offering investors greater portfolio visibility, faster deployment and reduced J-curve effects.

By Dennis Scharf, managing director, secondary investments, Hamilton Lane

GP-led continuation vehicles are emerging as an increasingly mainstream solution for private equity firms seeking to hold prized assets for longer while returning capital to investors. But as volumes rise, so do questions around pricing, governance and alignment.

The Q2 2026 issue of Private Markets Profile is now live.

Record-low distributions have forced investors to rethink private equity liquidity, with secondaries and continuation vehicles increasingly being used as portfolio management tools.

Record-low distributions have forced investors to rethink private equity liquidity, with secondaries and continuation vehicles increasingly being used as portfolio management tools.

The GP-led secondaries market isn’t fading – it’s maturing. As continuation funds face tougher underwriting, stronger governance demands and more selective buyers, only deals…

After a long period of subdued distributions, investors have been re-evaluating how they approach the asset class

The Q4 issue of Private Markets Profile is now live on our website

Several short-term factors are combining to put pressure on fund launches and leading some LPs to allocate to secondaries

Final close for Coller Credit Opportunities II reflects rapid market development

Asset owners respond to geopolitical and trade concerns with move to defensive private markets asset classes