Continuation Vehicles

$400bn, $500bn, even $1trn… Secondaries experts from across the industry share their predictions on the size of the market by 2030 and explain how private credit can act as a driver of activity.

LPs face pain points in CV transactions moving through the ‘relatively nascent’ yet booming credit secondaries market, panellists said at PEI Group’s Private Credit DACH 2026 Forum.

Continuation vehicles present an interesting opportunity for fund finance, but concentration risk and a reluctant investor base pose a challenge.

Developments including the evolution of use cases and a wider universe of lenders are creating a more flexible yet complex ecosystem.

The growth of continuation vehicles, evergreen funds and securitisation are contributing to the changing face of the fund finance market.

Edward Beecham and Megan Livingstone, co-heads of fund finance at Corpay Private Markets, examine various key sources of demand.

The second-quarter equity fundraise for credit of $1.8bn was about one-tenth of last year’s.

The industry body’s prior guidance was ‘silent on a lot of things’, chief executive Jennifer Choi tells affiliate title Secondaries Investor.