'Terrific Tail Winds' In Secondaries: Dawn

Secondaries deals for private assets reached a record $121 billion in the first half of 2026, marking significant growth in the market. This surge is primarily driven by fund managers' strategy to retain high-value "trophy" assets for extended periods rather than selling them. According to Nigel Dawn, global head of private capital at Evercore, these tailwinds are creating favorable conditions for the secondaries market.