Secondaries Volume Reached Record in 2025 as LPs Embrace Market
The record $226 billion in transactions in 2025 rose 41% year-over-year, according to data from Evercore Private Capital Advisory.
By Matt Toledo
The secondaries market for limited partner stakes in private funds rose to a record $226 billion in 2025, according to a report from Evercore Inc.’s Private Capital Advisory group. The 41% increase from the prior year comes as investors embrace the marketplace as a tool for portfolio optimization.
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