The secondary market continues to evolve rapidly—no longer defined solely by LP transactions, but increasingly shaped by the dynamic rise of GP-led solutions, the emergence of private credit secondaries, and the growing influence of non-traditional capital sources. In a year marked by market dislocation and ongoing liquidity constraints, understanding the drivers behind secondaries has never been more critical.
The CAIA Southwest Chapter held a timely and engaging discussion with industry experts to explore the latest trends and opportunities shaping the secondaries landscape in 2025. The panel offered fresh insights on:
- The continued evolution and institutionalization of GP-led secondaries
- Private credit’s growing role and how secondaries are unlocking liquidity in this space
- Where LP-interest transactions fit in today’s pricing and market environment
- The impact of private equity democratization—including the rise of wealth platforms—on deal flow and structure
- What investors should be watching as fund terms, buyers, and capital sources evolve
Whether you're active in the secondaries space or seeking a better understanding of its future trajectory, this session will equip you with actionable takeaways and perspectives to stay ahead.
