Secondary Market Watch
Secondary Market Watch
31 Jul 2026
Secondary markets showed resilience in the first half of 2026 despite a cautious start to the year, navigating geopolitical tensions, trade uncertainty and slower exit activity. Conditions improved as the period progressed, supported by strong investor demand and ample dry powder from recent capital raises.
Pricing trends were mixed: private equity discounts widened modestly, infrastructure discounts narrowed, while private credit and real estate pricing remained broadly stable.
Explore the latest data and insights from XPS Xchange in this edition of Secondary Market Watch.
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