Secondary Market Surge: How Evergreen Vehicles Are Writing Private Equity's Next Chapter

Secondaries have moved from a niche tool to a core part of private markets, providing liquidity and extending holding periods.

Evergreen and continuation vehicles allow sponsors to hold high-quality assets longer while offering investors flexible entry and exit.

As allocators seek to manage denominator effects and rebalance portfolios, secondary volumes are reaching record levels.

Pricing discipline, transparency and alignment between buyers and sellers will determine which structures endure.