Secondaries market growth triggers data issues for investors
Private market secondaries have exploded, but at the cost of significant data challenges for investors. Simon Tang, Accelex’s head of US, explains how unstructured data formats are causing transparency issues and slowing the industry’s growth.

Private market secondaries are experiencing a period of rapid growth, with secondary transaction volumes hitting a new half-year record of $100 billion in H1 2025. As tariffs and geopolitical uncertainties disrupt global capital markets, this expansion has been further accelerated by limited partners’ liquidity needs, an investor-led push to diversify portfolios, a rush to rebalance private market positions, and the growth of general partners-led secondary opportunities.
Private markets stand to
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