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Secondaries Investor’s Second Thoughts

PEI Group
Secondaries Market
Private Equity
Institutional Investors
Gp-Led Transactions
North American Secondaries Market
Infrastructure Secondaries
Liquidity
Volcker Rule
Market Trends
Continuation Funds
Global Financial Crisis
Liquidity Solutions
Alternative Investments
Liquidity Events
Programmatic Selling
SEC Regulations
Pension Funds
Co-Investments
LP Portfolio Transactions
Gender Diversity

Secondaries Investor’s Second Thoughts podcast focuses exclusively on private markets’ burgeoning secondaries market, which is offering liquidity to its underlying illiquid asset classes. Hear analysis from Secondaries Investor’s global team of journalists and interviews with the market’s most influential players and rising stars discussing the dynamics shaping this ever-evolving area.

PublishesMonthlyEpisodes39Foundeda year ago
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Artwork for Secondaries Investor’s Second Thoughts

Latest Episodes

GP stake secondaries transactions are steadily gaining traction as investors seek exposure to leading private equity firms. Though still in their early stages, these deals are often described as offering some of the most attractive risk-return profil... more

This episode is sponsored by Lexington Partners, Proskauer and StepStone Group

The secondaries market is benefitting from private markets' push into the private wealth space, with managers either launching secondaries-focused vehicles or secondaries... more

This episode first appeared on The Infrastructure Investor Podcast

In this special crossover episode from our affiliate title, Infrastructure Investor editor-in-chief Bruno Alves sits down with Madeleine Farman, editor of Secondaries Investor, as we... more

This episode is sponsored by Pomona Capital and Proskauer

While the Trump administration's tariff announcements and the subsequent unfurling of uncertainty globally does create some headaches, it also creates a tailwind for the LP-led secondaries ma... more

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Recent Guests

Damien Webb
Deputy Chief Investment Officer of Aware Super
Aware Super
Episode: Secondaries deals are on the cards for Australia's Aware Super
Carlo Pirzio-Biroli
Managing partner and head of CVC Secondary Partners, founder and experienced professional in the secondary market
CVC Secondaries Partners
Episode: Peeling back the onion on 2024 – literally
Ted Cardos
Partner in the Kirkland & Ellis Liquidity Solutions Team with extensive experience in the secondary market
Kirkland & Ellis
Episode: Peeling back the onion on 2024 – literally
Sijia Cai
Partner at Davis Polk & Wardwell specializing in secondary transactions
Davis Polk & Wardwell
Episode: How Next Gen Leaders see the future of the secondaries market
Josef Menasche
Managing Director at Goldman running the secondary business
Goldman Sachs
Episode: How Next Gen Leaders see the future of the secondaries market
Sabrina Harliman
Vice President at TPG GP Solutions specializing in GP-led transactions
TPG GP Solutions
Episode: How Next Gen Leaders see the future of the secondaries market
Johanna Lottmann
Partner with PJT Partners, running European Secondary Advisory activities
PJT Partners
Episode: The 'lead investor' conundrum: a buyer, adviser and lawyer share their thoughts
Louis Choy
Works at AlpInvest, involved in GP and LP secondaries, PrefEquity, and NAV Financings
AlpInvest
Episode: The 'lead investor' conundrum: a buyer, adviser and lawyer share their thoughts
Sarah de Ste Croix
Head of Private Equity at Stephenson Harwood and partner
Stephenson Harwood
Episode: The 'lead investor' conundrum: a buyer, adviser and lawyer share their thoughts

Host

Madeleine Farman
Senior reporter at Secondaries Investor, focusing on the dynamics of the secondaries market and engaging with industry leaders to discuss emerging trends and strategies.

Chart Rankings

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Talking Points

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Strategic Partners’ Perry on the state of the market and career lessons learned
Q: What advice would you give to someone starting their career today in the securities market?
Be curious, learn as much as possible, don't assume anyone is smarter than you, and remember that you can contribute to and enhance the team's culture.
Strategic Partners’ Perry on the state of the market and career lessons learned
Q: What is driving Secondaries' deal flow currently?
The primary drivers are overallocation in private equity due to market pullbacks, making investors seek liquidity, and the administrative burdens of managing numerous funds leading to portfolio management adjustments.
SI Decade: Zombie funds to continuation vehicles
Q: Are continuation funds always a good option?
Continuation funds are not always suitable; for instance, they may not be ideal if the asset has underperformed or if there's misalignment between GPs and LPs.
How to get into the SI 50: Inside our latest ranking of the biggest secondaries fundraisers
Q: What are the main findings of the SI50 ranking this year?
The secondaries market has defied a difficult fundraising environment, seeing a 9% increase in funds raised by the top 50 firms in the past 5.5 years.
Secondaries deals are on the cards for Australia's Aware Super
Q: What does actually having an office in London enable you to do that you weren't able to do before?
It allows Aware Super to drive greater sourcing of investment opportunities and have deeper interactions in private markets.

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Frequently Asked Questions About Secondaries Investor’s Second Thoughts

What is Secondaries Investor’s Second Thoughts about and what kind of topics does it cover?

The discussions revolve around the secondaries market within private equity, particularly focusing on Liquidity, investment strategies, and evolution in response to current market dynamics. The content frequently highlights the growth potential of the secondaries market, which has seen record fundraising and innovative trends — such as evergreen and GP-led funds. The conversations involve insights from industry leaders and emerging professionals, covering complex themes like talent development, market competition, and sector specialization, making it a vital resource for investors and professionals seeking to navigate the secondary landscape of private equity.

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Which podcasts are similar to Secondaries Investor’s Second Thoughts?

These podcasts share a similar audience with Secondaries Investor’s Second Thoughts:

1. Dry Powder: The Private Equity Podcast
2. The View From Apollo
3. The Credit Edge by Bloomberg Intelligence
4. Capital Allocators – Inside the Institutional Investment Industry
5. Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets

How many episodes of Secondaries Investor’s Second Thoughts are there?

Secondaries Investor’s Second Thoughts launched a year ago and published 39 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Secondaries Investor’s Second Thoughts?

Recent guests on Secondaries Investor’s Second Thoughts include:

1. Damien Webb
2. Carlo Pirzio-Biroli
3. Ted Cardos
4. Sijia Cai
5. Josef Menasche
6. Sabrina Harliman
7. Johanna Lottmann
8. Louis Choy

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