Blackstone's Verdun Perry predicts a record-breaking year for private equity exits and secondaries activity in 2026. He forecasts secondaries volume could reach between $260 billion and $275 billion, driven by both GP-led and LP-led transactions. Perry highlights that private markets funds hold $13 trillion in exposure, with only 1.6% currently trading on the secondaries market – a figure he calls 'tiny' and 'underutilized'.

He expects the market to grow significantly, potentially reaching a 9% turnover rate long-term. A key driver is the shift from reactive to proactive market participation. Distressed sales account for less than 5% of transactions over the past five years.

Perry also anticipates a strong 2026 for M&A exits, projecting a 30-40% year-on-year increase, fueled by pent-up demand from both buyers and sellers. He notes the IPO market remains accessible for high-quality businesses.