Credit Markets

The global secondary market saw record volume in 2025, and growth can increasingly be found in the APAC region.   APAC accounts for less than 10% of the now-$240 billion secondary market. But investor appetite is growing as APAC secondary funds have enough dry powder to fund three years’ worth of deals. The APAC secondary

A record number of investors entered the market for credit secondaries in 2024. Halfway through 2025, this trend continues to accelerate at a fast pace.

As reported by Jefferies, global secondary volume hit a record of $162 billion last year, a 45% increase over 2023. Here’s what’s fueling the trend.

In July, Jefferies’ Private Capital Advisory team released its mid-year review of the secondary market, consolidating discussions, surveys, and research from the market’s biggest and most influential limited partners, general partners, and secondary buyers. This report follows Jefferies’ H2 2023 secondary market review, which predicted near-record secondary volume, higher LP pricing, and a sustained capital […]

As 2024 begins, tech dealmaking continues to recover gradually – a trend that may endure for months or potentially longer – but be ready for it to shift suddenly.

Philip Noblet, Head of UK and Ireland Investment Banking at Jefferies, discusses October inflation data and its potential impact on dealmaking.

David Zervos is skeptical the Fed will be able to quickly declare victory over inflation and expects that a solid economic outlook should translate to a more restrictive Fed, for a longer duration.

It is common for highly levered sponsor-backed companies with liquidity needs and/or upcoming maturities to engage in liability management exercises, which often includes creating a new priming tranche of secured debt (an “Uptier”) or transferring assets out of the secured collateral package (a “Drop Down”).

Specialty finance companies experienced positive momentum during the second quarter and summer of 2023. Sustained demand for credit from both consumers and alternative funding, along with some encouraging macroeconomic trends, drove continued growth.