A growing reliance on multi-layer continuation vehicles is leaving private equity assets in prolonged ownership structures, highlighting the industry’s struggle to exit investments through traditional sales or IPOs, according to a report by the Financial Times.
Ardian is increasingly positioning itself as a key buyer of private equity stakes from major Canadian pension funds, as institutional investors accelerate use of the secondary market to generate liquidity amid slower distributions and subdued deal activity, according to a report by Bloomberg.
Blackstone Inc’s secondaries business crossed $100bn in assets under management during the first quarter, cementing its position as one of the largest players in the rapidly expanding market for secondhand private equity stakes, according to a report by Bloomberg.
Switzerland-based private markets investor Partners Group has completed fundraising for its eighth private equity secondaries program, securing more than $9bn in total commitments across a mix of fund and co-investment vehicles, the firm said.
Goldman Sachs Asset Management and Ardian have purchased a $1bn portfolio of US private equity interests from China Investment Corp. (CIC), in a secondary market transaction involving the sovereign wealth fund’s efforts to reduce exposure to illiquid assets, according to a report by Bloomberg.
China’s largest insurer Ping An Insurance Group is seeking to reduce its exposure to software-focused private equity investments through a secondary sale of fund stakes valued at around $1bn, according to a report by Bloomberg citing unnamed people familiar with the matter.
Netley Capital, a London-based private investment firm focused on tertiary investing, has secured additional committed capital for its tertiaries franchise, bringing total deployable capital to approximately $825m from $315m at launch in September 2025.
PE exits and dealmaking both lag behind wider M&A activity by some distance this year. That means the plumbing and engineering behind the secondary market will be put under more pressure than ever.
Ares Management is leading a €300m ($346m) a single asset continuation fund structured through its secondaries platform, for frozen bakery company Europastry, which currently owned by MCH Private Equity, according to aa report by Bloomberg.
London private equity firm Hollyport Capital, which manages over $9bn in assets, is exploring a potential sale at a potential valuation of around $1bn with the assistance of Evercore Inc, according to a report by Bloomberg citing unnamed people familiar with the matter.
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