Investec has just published its latest annual report on the Secondaries market – and it is well worth a read.

The report found that secondary managers have high expectations for both deal flow and fundraising in 2023 – reflected in the resilient demand for debt that Investec noted, despite rising rates.

The Investec report also offers useful insights into how and why GPs in secondaries are using leverage, and assesses the various financing strategies.

The key insights (along with the full report to download) can be found here.