Secondary investors and financial advisers say they are awash in deals, thanks to strong performance by private-market portfolios that buoyed pricing for assets.

New data shows that 77 percent of allocators have already used secondaries, and 21 percent plan to up their exposure.

Kline Hill Partners founder Michael Bego sees ample opportunities in 2021 after the firm deployed about a quarter of its latest flagship secondary fund during the Covid lockdown last year.

The first half of this year saw LP portfolios of various sizes return – slowly – to the market. It’s unlikely, however, that the short term will see a return to more of the traditional split where LP-led deals dominate activity in the industry.

In formalizing the GP-led strategy, Kline Hill joins several other firms like TPG, Blackstone Group and Partners Group.