CVC Capital Partners Raises $10 Billion for Its Largest-Ever Secondaries Fund
    Market Analysis

    CVC Capital Partners Raises $10 Billion for Its Largest-Ever Secondaries Fund

    CVC Capital Partners closed its largest-ever secondaries fund on September 3, 2026, raising $10 billion for Secondary Opportunities Fund VI (SOF VI) — nearly doubling the $5.8 billion its predecessor

    Jeff Barnes, MBA··11 min read
    How an LP Should Read a Continuation Vehicle Fairness Opinion Before Deciding to Roll or Sell
    Private Equity

    How an LP Should Read a Continuation Vehicle Fairness Opinion Before Deciding to Roll or Sell

    TL;DR: Continuation vehicles generated $65 billion of GP-led secondary volume in the first half of 2026, up 35% year over year, according to Evercore's H1 2026 Secondary Market Review — and every one

    Jeff Barnes, MBA··11 min read
    CVC's $10 Billion Secondaries Fund Signals a Compressed Market
    Market Analysis

    CVC's $10 Billion Secondaries Fund Signals a Compressed Market

    TL;DR: CVC Capital Partners just closed a $10 billion secondaries fund , its sixth and largest, more than 70% bigger than the $5.8 billion it raised in 2023 and nearly four times the $2.7 billion it r

    Jeff Barnes, MBA··11 min read
    Why Private Equity Secondaries Trade at a Discount to NAV (And When That Discount Disappears)
    Alternative Investments

    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...

    Jeff Barnes, MBA··10 min read
    MetLife's $1.2 Billion Managed Secondary: What Insurers Selling Their Own PE Book Really Signals
    Private Equity

    MetLife's $1.2 Billion Managed Secondary: What Insurers Selling Their Own PE Book Really Signals

    MetLife just sold a chunk of its own private equity book to itself, and it did it for the third time in four years. On August 3, 2026, MetLife Investment Management (MIM) announced the close of its...

    Jeff Barnes, MBA··10 min read
    AlpInvest's $1.7 Billion Continuation Vehicle Fund: What a 393% Jump Signals
    Private Equity

    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...

    Jeff Barnes, MBA··10 min read
    The Endowment Model: Can Individual Accredited Investors Really Replicate the Yale Playbook?
    Market Analysis

    The Endowment Model: Can Individual Accredited Investors Really Replicate the Yale Playbook?

    TL;DR: The Yale Model made David Swensen famous by dumping public stocks and bonds for private equity, venture capital, hedge funds, and real assets. Individual accredited investors now have real...

    Jeff Barnes, MBA··9 min read