Private equity has been growing as an asset class with total assets under management reaching $6.5 trillion in 2020 vs. $2.4 trillion in 2010. While this growth in private equity has been going on for quite a while, driven by the search for higher returns in a low yield world, a more recent phenomenon has been the growth in the private equity secondary market. The secondary market, where buyers and sellers trade existing interests in private equity funds and their portfolio companies, has grown to almost $90 billion, a six-fold increase during the past decade. READ MORE