Private Equity
GP-Led Secondaries vs. LP-Led Secondaries: A Complete Guide for Accredited Investors
TL;DR: The secondary market reached $116 billion in 2025, up from $88 billion in 2023. GP-led secondaries — where fund managers roll trophy assets into new continuation vehicles — now dominate the mar
Jeff Barnes, MBA··10 min read
Alternative Investments
ROFR in Private Markets: How Right of First Refusal Blocks Your Exit
TL;DR: ROFR gives founders, companies, or existing investors the legal right to block your share sale by matching the buyer's offer. In pre-IPO secondaries, you have a 30-day window of uncertainty.
Jeff Barnes, MBA··9 min read