{"id":57013,"date":"2026-03-10T11:44:45","date_gmt":"2026-03-10T10:44:45","guid":{"rendered":"https:\/\/editing.capitalmind.com\/secondary-market-review-2025\/"},"modified":"2026-03-10T14:26:06","modified_gmt":"2026-03-10T13:26:06","slug":"secondary-market-review-2025","status":"publish","type":"post","link":"https:\/\/dev2.capitalmind.com\/de\/secondary-market-review-2025\/","title":{"rendered":"Secondary Market review &#8211; 2025"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>The secondary market is growing rapidly, fuelled by booming GP-led transactions. The market experienced a record year in 2025 and is expected to keep increasing as the need for liquidity intensifies.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Record market volumes saw 18% of the overall market CAGR from 2018 to 2025; and a strong yearly growth in 2025 driven by GP-led and LP-led growth rates of 53% and 42% respectively compared to 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Given the level of secondary dry powder, GPs being more familiar with the space and a more favourable secondary pricing environment, we expect the market to keep expanding and see it well positioned for further growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Secondary market today<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"336\" src=\"https:\/\/dev2.capitalmind.com\/wp-content\/uploads\/2026\/03\/Secondary-market-volume-1024x336.png\" alt=\"\" class=\"wp-image-56971\" srcset=\"https:\/\/dev2.capitalmind.com\/wp-content\/uploads\/2026\/03\/Secondary-market-volume-1024x336.png 1024w, https:\/\/dev2.capitalmind.com\/wp-content\/uploads\/2026\/03\/Secondary-market-volume-800x262.png 800w, https:\/\/dev2.capitalmind.com\/wp-content\/uploads\/2026\/03\/Secondary-market-volume-768x252.png 768w, https:\/\/dev2.capitalmind.com\/wp-content\/uploads\/2026\/03\/Secondary-market-volume-1536x504.png 1536w, https:\/\/dev2.capitalmind.com\/wp-content\/uploads\/2026\/03\/Secondary-market-volume-1x1.png 1w, https:\/\/dev2.capitalmind.com\/wp-content\/uploads\/2026\/03\/Secondary-market-volume-200x66.png 200w, https:\/\/dev2.capitalmind.com\/wp-content\/uploads\/2026\/03\/Secondary-market-volume-500x164.png 500w, https:\/\/dev2.capitalmind.com\/wp-content\/uploads\/2026\/03\/Secondary-market-volume.png 1814w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Sources: Investec market intelligence, Preqin and Secondaries Investor data<\/em><\/p>\n\n\n<section class=\"content--block quoteBlock \">\n    <div class=\"holder\">\n        <div class=\"stories slide-up d-flex\" data-scroll=\"\">\n            \n            <blockquote class=\"stories__desc\" style=\"flex: 0 0 100%;max-width: 100%;\">\n                <span class=\"stories__desc_quote\">\u201c\u201d<\/span>\n\n                                    <p>GP-leds are growing at faster rate than LP-leds as they are accounting for an increasingly larger percentage of the total secondaries volume (47% in 2025 vs. 32% in 2018).<\/p>\n                \n\n                                    <cite>&#8211; Stefano Manna, Head of Private Capital Advisory<\/cite>\n                            <\/blockquote>\n        <\/div><!-- \/.stories -->\n    <\/div>\n<\/section>\n<!-- ============= End of \/.QuoteBlock =============== -->\n\n\n<p class=\"wp-block-paragraph\"><strong>Our latest Secondaries Market Review sets out the key data, growth dynamics and structural trends shaping the secondaries market and what we can expect to see in 2026.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The review covers:\u00a0\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The secondary market today<\/li>\n\n\n\n<li>GP-led transactions as a key solution<\/li>\n\n\n\n<li>Secondary fundraising momentum<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Download the full report to read the findings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The secondary market is growing rapidly, fuelled by booming GP-led transactions. The market experienced a record year in 2025 and&#8230;<\/p>\n","protected":false},"author":58,"featured_media":56986,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"inline_featured_image":false,"footnotes":""},"categories":[3801],"tags":[],"news-event-type":[],"dealtype":[3713,3741],"blog-tag":[],"class_list":["post-57013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sectornews-de","dealtype-mbo-de","dealtype-equity-growth-capital-de"],"acf":[],"_links":{"self":[{"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/posts\/57013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/comments?post=57013"}],"version-history":[{"count":0,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/posts\/57013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/media\/56986"}],"wp:attachment":[{"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/media?parent=57013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/categories?post=57013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/tags?post=57013"},{"taxonomy":"news-event-type","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/news-event-type?post=57013"},{"taxonomy":"dealtype","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/dealtype?post=57013"},{"taxonomy":"blog-tag","embeddable":true,"href":"https:\/\/dev2.capitalmind.com\/de\/wp-json\/wp\/v2\/blog-tag?post=57013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}