(HedgeCo.Net) Private capital investors sold a record $110 billion in aged fund stakes in 2025 — a 25% jump vs. 2024 — spotlighting the rise of secondaries as a central liquidity conduit in private markets.
Overview
2025’s private equity cycle presented exits that lagged expectations and forced holders of legacy portfolios to seek liquidity creatively. The result: a boom in secondary transactions that may redefine private capital’s structural landscape in 2026.
1. Understanding the Se...
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