A new white paper from Carlyle AlpInvest predicts a massive expansion in the credit secondaries market. Analysts estimate total volume will exceed $80 billion by 2030. This growth comes as the industry overcomes early structural constraints that previously limited how these assets were traded and managed.

Dry powder sat at $20bn at the start of 2026, providing only six to nine months of deployment runway at current speeds. This limited capital supply suggests high demand for available deals. Rapid deployment shows that investors are eager to enter the space as private credit assets under management grow.

Three distinct drivers are fueling this activity, alongside the broader rise of private credit. The shift indicates that the market has matured enough to support larger volumes. Institutional investors now have the structural tools needed to trade credit positions more efficiently than in previous years.

This surge in volume reflects a broader trend of liquidity seeking in private markets. Increased deal velocity proves that the credit secondaries space is no longer a niche segment. Market participants are now treating these assets as a standard liquidity tool for portfolio management.