Hannah Zhang

'We really like the idea of building a secondary platform with a blank sheet of paper,' KKR CFO Rob Lewin said on the firm’s Q4 2025 earnings call.

Credit secondaries ranked second only to PE in deal volume across both LP-led and GP-led transactions in 2025.

Nearly one-quarter of LPs have seen evidence of CV-on-CVs, according to Coller Capital’s latest investor survey.

The $85bn fund needs to think about whether it will be investing alongside retail capital when it evaluates GPs, according to deputy CIO Allen Waldrop.

Financial advisers must decide what’s best for their clients, rather than choosing between public markets and so-called alternatives, according to the asset manager's chief executive.

It is more in credit GPs’ interests to actively pursue liquidity than remain passive with tail-end portfolios.

Fundraising pressures, shifting fund terms and the rise of co-investments are reshaping the private funds landscape, says law firm Barnes & Thornburg.

The transactional nature of semi-liquid fund structures can place a lower importance on relationship building between investors and their managers, says Nicole Musicco.

While the exact size of the portfolio is unclear, affiliate Secondaries Investor understands the portfolio could range around the $5bn and $6bn mark.

The credit secondaries market is being rolled out 'on steroids', says Coller’s Michael Schad in a Secondaries Investor podcast.