Key Takeaways
- • EQT announced in August that it had closed its acquisition of secondaries investor Coller Capital in a transaction valued at up to $3.7bn, forming new subsidiary Coller EQT, according to Private Equity Wire.
- • According to Evercore data cited in the episode, GP-led secondary transactions overtook LP-led deals in H1 2026, with volumes of $65bn and $56bn respectively.
- • Secondaries are increasingly used as a liquidity management tool as semi-liquid funds face rising redemption pressure.
- • Partners Group is splitting its private equity evergreen fund into an umbrella structure separating longer-duration underperforming assets from newer investments, a move that may create discounted secondary opportunities.
- • Coller EQT partner Bosa Adeghe discusses GP-led growth, trophy-asset retention as the main driver of continuation vehicles, the role of AI, and liquidity solutions in this Private Equity Wire podcast episode.
Summary
Private Equity Wire's "Alternative Views" podcast features Bosa Adeghe, a partner in the investment team at Coller EQT, discussing the secondary market. The conversation follows EQT's announcement in August that it had closed its acquisition of secondaries investor Coller Capital, in a transaction valued at up to $3.7bn. The deal formed Coller EQT as a new subsidiary within the Swedish private capital firm.
The episode frames the transaction against a shifting secondaries market. According to data from Evercore, GP-led transactions overtook LP-led transactions in H1 2026, with total volume reaching $65bn and $56bn respectively. The discussion covers trophy-asset retention as the main driver of continuation vehicles, the reasons behind the GP-led shift, and the role of AI in the market.
The article also highlights secondaries' growing role in liquidity management. As semi-liquid funds come under pressure from rising redemptions, secondaries sit alongside liquid cash and public equities as a means for funds to shorten durations and maintain cash flow. The market's appetite to offload weaker-performing assets may also create cut-price opportunities for secondary buyers. Partners Group's decision to split its private equity evergreen fund into an umbrella structure, separating longer-duration assets struggling to deliver returns from newer investments, was cited as an example.
The episode addresses liquidity challenges and whether discounted assets present opportunities, among other topics.
The episode frames the transaction against a shifting secondaries market. According to data from Evercore, GP-led transactions overtook LP-led transactions in H1 2026, with total volume reaching $65bn and $56bn respectively. The discussion covers trophy-asset retention as the main driver of continuation vehicles, the reasons behind the GP-led shift, and the role of AI in the market.
The article also highlights secondaries' growing role in liquidity management. As semi-liquid funds come under pressure from rising redemptions, secondaries sit alongside liquid cash and public equities as a means for funds to shorten durations and maintain cash flow. The market's appetite to offload weaker-performing assets may also create cut-price opportunities for secondary buyers. Partners Group's decision to split its private equity evergreen fund into an umbrella structure, separating longer-duration assets struggling to deliver returns from newer investments, was cited as an example.
The episode addresses liquidity challenges and whether discounted assets present opportunities, among other topics.
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