Infrastructure Secondaries Daily
Jefferies puts H1 secondary volume at $103B
Monday, June 22, 2026 · 11 min
Jefferies H1 2025 secondary market review puts global volume at $103 billion and average LP-portfolio pricing at 90% of NAV, with Morgan Lewis and StepStone context on GP-led continuation vehicles and infrastructure secondaries.
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Jefferies H1 2025 secondary market review puts global volume at $103 billion and average LP-portfolio pricing at 90% of NAV, with Morgan Lewis and StepStone context on GP-led continuation vehicles and infrastructure secondaries.
In this episode
- [PDF] H1 2025 Global Secondary Market Review - Jefferies — Jefferies
PRIVATE CAPITAL ADVISORY H1 2025 Global Secondary Market Review JULY 2025 2 GLOBAL SECONDARY MARKET REVIEW | JULY 2025 H1 2025 Highlights ▪Global secondary market volume of $103 billion increased 51% from $68 billion in H1 2024. This represents the largest year-over-year H1 volume increase and the most active 6-month period in market history. Market volume was driven by multiple tailwinds,…
- campbell-lutyens-1h-2025-secondary-market-overview-report.pdf — Campbell Lutyens
Strictly private & confidential ## 1H 2025 # Secondary Market # Overview Report Campbell Lutyens ΙStrictly private & confidential Transaction pricing analysis Transaction pricing analysis Transaction pricing analysis Highlights Highlights Highlights Geographical dispersion of activity Geographical dispersion of activity Geographical dispersion of activity LP-led…
- Continuation Vehicles and Coinvestments — Morgan, Lewis & Bockius LLP
© 2025 Morgan, Lewis & Bockius LLP June 10, 2025 NEW YORK Continuation Vehicles and Co-Investments Speakers Aaron D. Suh +1.215.963.5742 aaron.suh@ morganlewis.com Joseph D. Zargari +1.212.309.7020 (+joseph.zargari@ morganlewis.com Continuation Vehicles $10 $18 $21 $25 $74 $20 $18 $21 $20 $79 $2 $2 $3 $5 $12 $32 $38 $45 $50 $165 – $20 $40 $60 $80 $100 $120 $140 $160 Q1 Q2 Q3 Q4 FY 2024 GP-Led…
- [PDF] Impact of New SEC Rule on Valuation & Conflicts of Interest — Standards Board for Alternative Investments
1 STANDARDS BOARD FOR ALTERNATIVE INVESTMENTS GP-Led Secondaries: Impact of New SEC Rule on Valuation & Conflicts of Interest 1. Introduction On 23 August 2023, the Securities and Exchange Commission (SEC) introduced new rules and changes under the Investment Adviser Act of 1940 to bolster regulation of private fund advisers. These rules aim to protect investors in private funds by enhancing…
- [PDF] Fundamentals of infrastructure secondaries - FS Super — FS Super
THE JOURNAL OF SUPERANNUATION MANAGEMENT • FS Super www.fssuper.com.au June | 2025 Fundamentals of infrastructure secondaries Stepstone T he secondary market has been a hot topic of conversation across private markets throughout the 2020s. Continued growth in deal volumes driven by overall private markets net asset value (NAV) growth and the ongoing evolution of the general partner (GP)-led…