LP Congress | How to manage the tension between primaries and secondaries
Sep 8, 2026 — 10:50 am - 11:30 AMLP Congress Plenary Room

Now that the secondary market is so large (and continuing to mature), we explore what tension it may create with making primary commitments. After all, the secondary market gives the optionality for vintage diversification, faster deployment and visible NAV. How do you balance both primary with secondary commitments within the same programme? Have secondaries have become so attractive on a risk-adjusted basis that they're cannibalising primary appetite?