Secondaries have emerged in recent years as one of the fastest-growing and most attractive segments of the private markets, with nearly a quarter of a trillion dollars’ worth of transactions completed in 2025 alone.
In 2026, some of the biggest players in private capital have turned to consolidation as a way to capitalize on the secondaries boom, with a trio of major PE firms striking deals to acquire some of the most notable secondaries investors in the market as a way to expand their offerings in this red-hot space.
For LPs who are active in secondaries, this trend of traditional PE firms acquiring major secondaries firms will change the dealmaking landscape in multiple ways. In some instances, it may create new opportunities for finding deals at attractive prices. In others, it may present conflicts of interest allocators will have to navigate.
It may also be a sign of things to come. And when the industry modernizes, investors must keep pace. As the secondary market consolidates and evolves, it becomes more important than ever for LPs to have accurate, reliable visibility into the data behind their deals. Armed with innovative portfolio analysis capabilities, LPs can access granular information, move faster, and make superior data-driven decisions when secondary opportunities arise, whether on the buy or sell side.
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