Private Equity
GP-Led Secondaries and Continuation Funds: What Every LP Needs to Know Before the Roll-or-Cash-Out Call
TL;DR: Your GP is about to offer you a choice — roll your interest into a new continuation vehicle or take cash — and 99% of LPs aren't ready for it. The market that powers this decision hit $115 bill
Jeff Barnes, MBA··9 min read
Private Equity
Private Equity Secondaries in 2026: How the $240B Exit Market Actually Works
TL;DR: The global PE secondaries market hit $240 billion in 2025 transaction volume , up 48% year-over-year and the largest annual figure ever recorded. That was not a fluke. The structural
Jeff Barnes, MBA··7 min read
Market Analysis
The J-Curve in Private Equity: Why Your Fund Looks Terrible in Year One
The bottom line: In a typical buyout fund, your reported net asset value drops to roughly 80 cents on every committed dollar by year 3.5 before it ever climbs back. That is not a warning sign. It is..
Jeff Barnes, MBA··11 min read