The global secondary market reached $220 billion in transaction volume in 2025, a 42% increase over 2024, with respondents to William Blair’s annual secondary market survey projecting volume will rise to $250 billion in 2026, according to the firm’s 2026 Secondary Market Report released March 26.
The survey drew 60 respondents from among the market’s largest secondary investors. Approximately 60% invested more than $500 million in secondary transactions in 2025; approximately 40% invested more t...
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