Secondaries

Download the May 2026 issue of Private Debt Investor

Inside: Credit managers take aim at defence spending; Plus, a survey of the secondaries market as GPs, LPs and advisers give their take on the industry; Expert analysis from industry leaders and much more…

Six key insights from the Global Market Survey

The key takeaways from our inaugural survey of LPs, secondaries buyers, GPs and advisers.

LP activity intensifies in rush for liquidity

A distribution desert has led to a surge in first-time LP sellers, while a challenged fundraising market has heralded the return of the primary staple.

Sellers on an uncertain price discovery journey

The ongoing expansion of the credit secondaries market looks like a buyers’ market. Sellers are selling because they must – buyers are buying because of a great opportunity.

Kirkland & Ellis: GP-leds transform the credit landscape

An abundance of capital and opportunity is coming together, say Mark Boyagi, Sean Hill and Ted Cardos, partners in the investment funds practice at Kirkland & Ellis.

Ely Place Partners: GPs should engage early with this innovative market

With GP-led deal popularity soaring and opportunistic portfolios entering the fray, there is now a broader opportunity, according to Daniel Roddick, founder at Ely Place Partners.

Pantheon: Primary market noise brings secondary opportunity

Retail redemptions and software exposure highlight the need for liquidity across private credit, offering potential opportunities for secondaries investors, according to Rakesh (Rick) Jain and Toni Vainio at Pantheon.

What the tech revolution means for secondaries

AI may be poised to turbocharge secondaries underwriting, but digital marketplaces and tokenisation are yet to gain traction.

PwC on how to capture additional value via tax levers

Avoiding tax leakage has become a key consideration for investors in the credit secondaries market, according to Mindi Lowy, a tax partner at PwC.

Download PDI’s 2026 Secondaries report

In the report: Global Market Survey 2026 – PDI takes a deep dive into the rapid rise of secondaries. GPs, LPs and advisers share their thoughts on the market; Expert analysis from industry leaders; And much more…