9min chapter

Dry Powder: The Private Equity Podcast cover image

The Rise of the Secondaries Market: From Backwater to Boomtown

Dry Powder: The Private Equity Podcast

CHAPTER

The Evolution of the Secondary Market

This chapter explores the growth and development of the secondary market over a 20-year period. It discusses various tools and solutions for both GPs and LPs to create liquidity, including securitizing LP interests, selling notes in the bond market, and utilizing NAV loans. The speakers also highlight the role of secondary transactions, such as continuation funds, in addressing the liquidity crunch in the bio market.

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