Are GP-led secondaries the answer to PE’s liquidity gap?

The private secondary market is experiencing explosive growth—largely fuelled by the rise of GP-led secondaries, which accounted for 47% of all private secondary activity in H1 2025. These transactions offer LPs an alternative path to liquidity when traditional exits, like IPOs and M&As, are delayed or unavailable.

So, how are GP-led secondaries helping to fill the liquidity gap in private equity?

Our new whitepaper offers key insights into this rapidly expanding segment, covering:

• The differences between GP-led and LP-led secondaries

• The benefit of these transactions for GPs, and the reasons behind their rise in popularity

• Considerations for investors when assessing or structuring GP-led transactions

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