Alterantives secondary market hits $36bn says Setter Capital

Setter Capital, the investment adviser on alternative investments, has published data suggesting the secondary market hit a value of $36bn through 2013.

The figure is contained in the latest Setter Capital Volume Report, which covers the private equity, real estate, infrastructure, timber and hedge fund secondary markets.

Setter put a survey of 11 questions to the groups it estimates represent the top 115 secondary buyers. Data from 70 of them were used for the Report’s findings. Secondaries transactions worth $23.67bn were reported by the 70 participants, from which Setter extrapolated its estimate of the total market for the full year.

“This estimate may in fact be low as we did not include more than 1,000 opportunistic and non-traditional buyers in this study, whose combined activity may be significant. For example, only one pension was included in the survey while no sovereign wealth funds or endowments were included,” Setter notes in its Report.

The data suggests that private equity dominated in terms of its share of the estimated total annual value of secondaries, Setter reports. Leveraged buy out was equally dominant as a type of deal involving private equity.

A key trend noted by respondents is data suggesting that the volume of deals was up in 2013 compared with 2012, and that the first half of 2014 may see further gains in volumes.

To read the full report click here:[asset_library_tag 7413,Setter Capital Volume Report 2013]



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