Why Private Equity Secondaries Trade at a Discount to NAV (And When That Discount Disappears)
Private equity secondaries priced at an average of 87% of NAV (net asset value, the fund's reported value of its holdings) through 2025 and into the first half of 2026. That single number hides a...
How to Vet a GP-Led Continuation Fund Before You Commit Capital
Roughly half of all secondaries capital now flows into GP-led continuation funds, according to Adams Street Partners , which puts continuation vehicles at close to 50% of its 2026 secondaries...
AlpInvest's $1.7 Billion Continuation Vehicle Fund: What a 393% Jump Signals
TL;DR: Carlyle's AlpInvest arm closed AlpInvest Atom Fund II (AAF II) at a $1.7 billion hard cap on July 15, 2026, a 393% jump from its 2023 predecessor fund, according to Alternatives Watch . The fund buys into...
Ardent's Self-Storage Continuation Vehicle: What LPs Should Ask StepStone Deal
The Ardent Companies just closed a GP-led continuation vehicle backed by StepStone Group, seeded with eight self-storage assets and structured to deliver the first exit for Fund II investors and...
The Secondaries Boom: How to Buy Discounted Stakes in Top-Tier VC Funds
The secondary market for venture capital fund interests is experiencing unprecedented volume, with investors snapping up stakes in top-tier funds at 10-25% discounts to NAV. Here's how sophisticated buyers are capitalizing on this structural opportunity.