Global secondaries volume increased 45% to reach a record $162 billion in 2024, according to the latest edition of Jefferies’ Global Secondary Market Review. Both LP and GP-led transactions experienced double-digit growth. LP transactions accelerated as investors rebalanced private asset allocations, worked around slower distributions, took advantage of a narrower bid-ask pricing gap, and saw rising demand from evergreen vehicles. On the GP-led side, continuation vehicle transactions powered much of the growth. The full report is available here.