Secondaries

Secondaries Research Report 2021

For the past three years, Investec has conducted research looking into key trends within the secondaries market and the expected changes. Download and read the findings below.

This year, continuing our research, we have been looking at how activity around secondaries has changed in the past 12 months. We are looking forward and discovering the changes that secondary fund managers expect to see in the near future.

The research is derived from speaking to 44 secondary fund managers across the globe. A number of senior professionals took part in interviews and conversations to provide in-depth context. 

Key findings

97%

of those active in GP-led solutions expect their activity to increase or stary the same in the next 12 months

66%

of managers involved in LP portfolio sales expect to increase their activity over the next year

77%

of respondents believe we will see a large improvement in deal flow in the next 12 months

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Secondaries Research report 2021

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Ian Wiese

The secondaries market continues to evolve and, whilst it has not escaped the effects of Covid-19, neither has it suffered the long-term impact perhaps feared. At Investec, we continue to work with all manner of market participants across the cycle, supporting them at the fund and transaction level. We are keeping our eyes and ears open as changes manifest and new challenges and opportunities emerge.

Ian Wiese, Head of Secondaries

Contact us

  • Ian Wiese

    Ian Wiese

    Fund Solutions

    As an origination director for Fund Solutions, I provide a range of flexible leverage solutions to funds and fund managers across private equity, infrastructure and other fund strategies. My main focus is in the UK primary and the European secondary markets.

    I work with clients to help them improve returns, optimise their balance sheets, create liquidity and facilitate opportunities. This can be achieved through various solutions such as GP facilities, structured fund bridging, concentrated NAV-based funding and secondary leverage.

  • Michael Zornitta

    Michael Zornitta

    Fund Solutions

    I work within the Fund Solutions origination team to help support our existing clients and drive new opportunities and strategies. This includes supporting funds through all stages of their lifecycle and providing our clients with innovative and flexible financing solutions

Contact us

Ian Wiese
Michael Zornitta

Ian Wiese

Fund Solutions

As an origination director for Fund Solutions, I provide a range of flexible leverage solutions to funds and fund managers across private equity, infrastructure and other fund strategies. My main focus is in the UK primary and the European secondary markets.

I work with clients to help them improve returns, optimise their balance sheets, create liquidity and facilitate opportunities. This can be achieved through various solutions such as GP facilities, structured fund bridging, concentrated NAV-based funding and secondary leverage.

Michael Zornitta

Fund Solutions

I work within the Fund Solutions origination team to help support our existing clients and drive new opportunities and strategies. This includes supporting funds through all stages of their lifecycle and providing our clients with innovative and flexible financing solutions