Research & Insights
August 13, 2026
Lazard Interim 2026 Secondary Market Report
The 2026 secondary market is driven by sponsors turning to continuation funds and trophy-asset exits for liquidity, matched by buyers with strong fundraising, sharper software underwriting, and growing '40 Act and evergreen capital, signaling a durable, structural market shift.
Campbell Lutyens Secondary Market Report 1H 2026
Based on insights from more than 120 of the most active secondary investors, our 1H 2026 report explores the trends shaping the next phase of the market's evolution.
Lazard 2025 Secondary Market Report
The secondary market just had its biggest year on record. 2025 saw $233 billion in secondary transaction volume—a 53% increase over 2024 and well above the previous peak set in 2021.
