History, Future of Secondaries

How did the secondaries market get so big, and how much more mature can it become? Three market veterans give an overview of the history of the secondaries market for private equity fund interests. Jason Gull, Partner & Global Head of Secondary Investments at Adams Street Partners, Bill Murphy, Managing Director of Cogent Partners and Mark Maruszewski, a Partner at StepStone Group, discuss the specialization and price transparency that has accompanied the rise of their market. Also discussed:  why investors are allocating more and more capital to secondaries strategies, and why transaction volume will continue to increase. This is the first of a four-part series on the private equity secondaries market.