Structural changes and the rise of artificial intelligence have created a more intricate secondaries framework, says Thomas Roche Toussaint, head of PE secondaries and co-investments at UBS Asset Management. Last year, secondaries volumes reached a new level, mainly driven by continued low distributions and ongoing macroeconomic uncertainties. Toussaint highlights that the market has evolved beyond simple liquidity solutions, with AI playing an increasingly pivotal role in deal sourcing, valuation, and risk assessment.

This technological integration is reshaping how general partners and limited partners approach secondaries transactions, offering new pathways to navigate complexity. The outlook for the remainder of the year suggests sustained activity as investors seek diversification and secondary markets adapt to shifting macro conditions. UBS Asset Management remains at the forefront of these developments, leveraging data-driven strategies to address the growing intricacies of the private equity secondaries landscape.