Key Takeaways
- • Setter Capital projects secondary private-market deal volume to reach roughly $120 billion in the second half of 2025, according to Pensions & Investments.
- • The headline figure is a projection, not a realized result, and the primary source excerpt provided does not include Setter Capital's underlying methodology.
- • The P&I article's body available for this summary focuses on a separate development: the Ohio School Employees Retirement System (SERS) plans a comprehensive review of its AI exposure.
- • Other pension funds are reportedly raising concerns about correlation risk and the risks of investing in new data center construction.
Summary
Pensions & Investments reports that Setter Capital expects secondary deal volume to reach $120 billion in the second half of the year. The headline projection signals continued growth in the secondary market for private fund interests and limited partner stakes, a segment that has attracted sustained allocator interest as institutions seek liquidity from private market holdings.
The primary source text available for this story is limited. Beyond the headline, it centers on a separate pension item: the Ohio School Employees Retirement System, based in Columbus, is planning a comprehensive review of its portfolio to determine its full exposure to artificial intelligence. According to the article, the review echoes concerns among other pension funds about correlation risk and the potential pitfalls of investing in new data center construction.
For institutional allocators, the two items together point to a common theme: scrutiny of concentrated thematic exposures and the search for liquidity and risk clarity across private and public holdings. Readers seeking the full breakdown of Setter Capital's secondary market figures, including segment mix and buyer and seller composition, should consult the original Pensions & Investments report.
The primary source text available for this story is limited. Beyond the headline, it centers on a separate pension item: the Ohio School Employees Retirement System, based in Columbus, is planning a comprehensive review of its portfolio to determine its full exposure to artificial intelligence. According to the article, the review echoes concerns among other pension funds about correlation risk and the potential pitfalls of investing in new data center construction.
For institutional allocators, the two items together point to a common theme: scrutiny of concentrated thematic exposures and the search for liquidity and risk clarity across private and public holdings. Readers seeking the full breakdown of Setter Capital's secondary market figures, including segment mix and buyer and seller composition, should consult the original Pensions & Investments report.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.