Posts by Cari Lodge

Market Commentary | Private Equity Insights

Cash is Queen

2023 was the lowest year in 10 years for U.S. private equity distributions.1 Without the cash from exits, private equity investors are struggling to commit to new private equity funds. Lessons...
Market Commentary | Private Equity Insights

Are LP Secondary Transactions Racing to a Record Year?

In the 1st half of 2023, global secondary market volume was down 25 percent year-over-year (“YoY”), decreasing from $57 billion to $43 billion1. This was partially driven by the 24 percent YoY...
Market Commentary | Private Equity Insights

Is the Future Bright for Secondaries?

The continued growth of private equity may lead to a bright future for secondaries as: ~$12.7 trillion of capital has been raised in the last 15 years in private equity, and Over 43,500 funds have...
Private Equity | Private Equity Insights

LP-Led Secondaries: The Core of the Secondaries Market

If one ever questioned whether LP-led secondaries were core to the secondaries market, one would only need to consider two factors: (1) the number of funds raised in a given year and (2) investors...
Private Equity | Private Equity Insights

Secondaries 2021 – A Buyers’ Market

What was once a nascent market, Secondaries has become both an innovative tool for general partners to hold onto their best assets, “Crown Jewels”, and a provider of liquidity to a formerly illiquid...
Market Commentary | Private Equity Insights

Secondary Market Poised for Dramatic Growth

"The secondary market has become a mainstay for investors, both as 1) more investors move into the secondary market and, 2) as a way to manage investors' existing private portfolios. Both sides of...
Private Equity | Private Equity Insights

Secondaries Market During the COVID Pandemic

The COVID-19 pandemic continues to impact the world in unprecedented ways. There is still much uncertainty including about when a vaccine will be ready and how schools reopening in the fall will...
Private Equity | Private Equity Insights

Private Capital Secondary Market | An Overview

COVID-19 is impacting the world in unprecedented ways. Today, it is estimated approximately 75 percent of the U.S. population or, almost 250 million people, are staying at home. Globally, over 1.5...
Private Equity | Private Equity Insights

The Evolution of the Private Equity Secondaries Market

Cari Lodge, head of secondaries at Commonfund Capital, discusses the development of the secondaries market for private equity and opportunities that it offers investors.