Private secondaries volume surged 41% to a record $226B in 2025.
This reflects growing innovation and a sustained need for liquidity.
Portfolio sales by limited partners drove $120B of this activity.
The market has diversified beyond buyouts into credit and venture.
bloomberg.com
Secondary deal volume for private assets surged 41% to a record $226 billion last year, Evercore Inc. said in a report, as investors got more creative about tapping that market for liquidity.