Introduction

The report focuses on how financing solutions are being used against a rising rate environment, whether at the secondary funds or at deal level; exploring trends and structures within the market. Whilst liquidity constraints remain prevalent and the supply and demand imbalance continues within the fund financing market, the report highlights the need for solution-orientated lenders with a proactive approach in providing tailored and flexible facilities to meet the evolving needs of the industry, to support the future growth of secondaries.

Download the 2023 Secondaries report PDF 5.97 MB

Looking forward

While private equity secondaries are not immune to disruption, the market continues on its long-term growth trajectory.

Financing within secondaries is rising to the challenge of high-interest rates – and appears to be holding strong. Until now, in an ultra-low-rate environment, growing demand for debt was almost a given. However, 2023 survey results prove it has an enduring appeal for GPs across the cycle.

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Private Equity Trends 2024

Our 13th annual Private Equity report explores the market and future predictions on decreasing valuation, asset financing, tax, ESG & more.

2024 Private Equity Trends

7 min read

How we can help

Our role is to help you achieve your business goals faster, unlock more opportunities and bring you peace of mind.

Speak to an expert

  • Stuart Ingledew

    Stuart Ingledew

    Stuart Ingledew

    Fund Solutions

    Working in the UK Fund Solutions team, I provide a range of flexible financing solutions to private equity funds and fund management teams. I work with a range of primary, secondary and fund of funds based throughout the UK and Europe to provide GP facilities, capital call facilities, concentrated NAV facilities and secondary leverage. My aim is to help clients improve returns, optimise balance sheets, create liquidity and facilitate opportunistic transactions.

    Additionally, I am working on the concentrated NAV financing strategy, which will enable third party investors the opportunity to gain exposure to the concentrated NAV financing product.

  • Sharon Thandi

    Sharon Thandi

    Sharon Thandi

    Fund Solutions

    I focus on origination within the Fund Solutions business and the Private Equity Secondaries strategy, supporting clients with their financing needs across various products such as capital call facilities, GP facilities, NAV-based lending and bespoke debt financing structures. I work with a range of clients across the private markets asset classes across Europe and the US.

    I have over 10 years of banking experience and prior to joining Investec in 2022, worked at Lloyds Bank undertaking roles in their Fund Financing, Sponsor Coverage and Restructuring businesses. I graduated from the University of Manchester having studied BA Economics and Politics.

Speak to an expert

Stuart Ingledew
Sharon Thandi
Stuart Ingledew

Stuart Ingledew

Fund Solutions

Working in the UK Fund Solutions team, I provide a range of flexible financing solutions to private equity funds and fund management teams. I work with a range of primary, secondary and fund of funds based throughout the UK and Europe to provide GP facilities, capital call facilities, concentrated NAV facilities and secondary leverage. My aim is to help clients improve returns, optimise balance sheets, create liquidity and facilitate opportunistic transactions.

Additionally, I am working on the concentrated NAV financing strategy, which will enable third party investors the opportunity to gain exposure to the concentrated NAV financing product.
Sharon Thandi

Sharon Thandi

Fund Solutions

I focus on origination within the Fund Solutions business and the Private Equity Secondaries strategy, supporting clients with their financing needs across various products such as capital call facilities, GP facilities, NAV-based lending and bespoke debt financing structures. I work with a range of clients across the private markets asset classes across Europe and the US.

I have over 10 years of banking experience and prior to joining Investec in 2022, worked at Lloyds Bank undertaking roles in their Fund Financing, Sponsor Coverage and Restructuring businesses. I graduated from the University of Manchester having studied BA Economics and Politics.

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