July 2026
Performance News Trends Regulatory updates
Secondaries market moves to centre stage
This secondaries-focused edition looks at how the market has moved into the allocation mainstream, with liquidity central to the private markets conversation. W1M’s Thomas Pocock examines secondaries as a more diversified and naturally liquid entry point for private markets investors, while questioning immediate mark-ups from discounted purchases back to NAV in evergreen structures. TPE’s Fred Bouverat looks at how the London Stock Exchange’s Private Securities Market and the TPEIC structure could create recurring liquidity in private company shares, opening private markets to pension and retail-facing capital. Multiplicity Partners’ Andres Hefti explores continuation funds and other GP-led tools, with opportunities increasingly found in smaller, more complex and less crowded deals. CSC’s Jonida Vesiu considers how secondaries, tender offers, private trading venues and PISCES are turning liquidity into a more permanent layer of private-market infrastructure. In our regular sections, Prosek Partners’ Mark Kollar picks up the Wimbledon mood in Letter from America, looking at tennis as the latest sport to attract private markets capital. CAIA’s Aaron Filbeck looks at AI investing through the stack, from models and platforms to infrastructure, applications and the companies using AI to build stronger margins and moats. AIMA’s Tom Kehoe draws on AIMA and Marex’s emerging manager survey, while in the Money Maze interview, Simon Brewer talks to Freshfields’ Alan Mason about law, capital and cross-border complexity.
A Brodie Consulting publication in conjunction with Capricorn Fund Managers and RQC Group.
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