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Market DataJuly 31, 2026 · 6 min read

Where LP-led secondaries actually cleared in 2025

Strategy and vintage, not headline discounts, set the price of an LP interest. The 2025 numbers, and what they mean if you are thinking about selling.

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PerspectiveJuly 31, 2026 · 5 min read

The market's blind spot: 41% of deals, 13% of the volume

Small LP stakes are nearly half the secondary market by count and almost none of it by advisor attention. Why the long tail exists, in the industry's own numbers.

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The information on this website is for general informational purposes only and does not constitute investment, legal, tax, or other professional advice, an offer to sell or a solicitation of an offer to buy any security, or a recommendation regarding any transaction. Any services described are intended solely for institutional and accredited investors. Interests in private funds and secondary transactions involve substantial risk, illiquidity, and potential loss of capital. Past performance is not indicative of future results. Any timelines, figures, or outcomes referenced are illustrative and bespoke to each engagement; no specific result is guaranteed. For disclosures or further information, please contact us directly.