The secondaries market is booming as a solution to private equity's liquidity crunch. Global volumes hit $118 billion in the first half of 2026, surpassing the previous H1 record of $103 billion. With a full-year record of $240 billion set in 2025, the market is on pace to exceed $1 trillion in just four years.

This growth reflects increasing investor demand for secondary stakes to manage portfolio liquidity.