The secondaries market has grown significantly in recent years, surpassing the USD 100 billion mark in transaction volume. Rather than just a by-product of relentless growth in investment activity, secondaries are now supporting the evolution of private markets into a more versatile and liquid asset class.

In this Q&A, Andres Small, Managing Director at Partners Group, outlines the long-term factors underpinning this trajectory and explains how a thematic and integrated approach to the asset class – particularly in a period of market dislocation – makes secondaries an especially compelling strategy right now.