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Cebile Capital Sees Resurgent Secondary Market

Despite the slow start in the first half of 2017, the secondary market turned up the gas in the second half of the year, reaching all-time record volumes of over $50 billion, according to Cebile Capital. As demonstrated by 2017 trends, it is evident that the market is forking between smaller players and larger secondaries buyers with both investment and human capital resources to repeatedly source and process larger transactions. And even though transactions within $250 million still characterise three-quarters of the market, larger players tend to complete fewer transactions, concurrently deploying more capital, notably in the GP-led space. Pricing remained strong in...