The secondaries market is projected to swell to $1trn over the next decade, a forecast released by Seine Capital. Analysts cite rising interest rates and a more favorable exit climate as the twin engines behind this surge.

Higher interest rates push investors toward liquid assets, while a tightening capital environment makes secondary purchases an attractive alternative to primary fund commitments. The combination of these forces is expected to accelerate deal flow across all private equity vintages.

The forecast signals a shift in portfolio strategy for institutional investors. By tapping secondary pools, funds can gain faster access to mature assets, diversify risk, and potentially improve liquidity profiles. Market participants will likely adjust allocation models to capture the anticipated upside.

Investors should monitor secondary pricing trends closely, as the projected growth could compress spreads and alter valuation benchmarks across the private equity landscape.