Secondary Market Activity Soars

Aug 1 2014 | 1:52pm ET

The secondary market for alternative investments reached new heights in the first half, according to a survey from Setter Capital.

Volume on the secondary market shot up nearly 50% compared to the first quarter of last year, to $22 billion. The overwhelming majority of the activity took place in private-equity funds, which accounted for $16 billion of the assets purchased, a 33% year-on-year increase.

North America saw the most action, accounting for in excess of half the total volume, followed by Western Europe, which saw slightly less than one-third. Asia-Pacific fund stakes worth US$3 billion changed hands. In terms of buyers, the North American-Western European dominance of the market was even more striking, with the two regions combining to account for about 97%.

Average deal size actually fell from $28 million to $23.5 million.

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