Jasmin Capital shares its insights in the article “The Revenge of Secondaries”, published in Private Equity Magazine (September 2026).
Driven by the rise and democratization of continuation funds, the secondary offering is becoming more sophisticated and segmented, a sign of “a profound and lasting transformation of the market.” Over the past ten years, the secondary market has grown sixfold, and GP-led transactions now account for more than half of all deals.
Gilles Morel, Partner and Head of Secondaries at Jasmin Capital, highlights: “With an average pace of one or two continuation funds per vintage, the volume of GP-leds still to come to market is potentially huge, because many managers haven’t taken the plunge yet, but they are all thinking very hard about it.”
The article, written by Houda El Boudrari, can be found in issue no. 219 of Private Equity Magazine: LINK