H1 2026 Secondary Market Review
First-half 2026 secondary volume surpassed $120 billion, the strongest first half on record and up nearly 20% year-over-year.
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First-half 2026 secondary volume surpassed $120 billion, the strongest first half on record and up nearly 20% year-over-year.
H1 2026 credit secondary volume reached $20.4bn, more than doubling H1 2025 and already exceeding full-year 2025 transaction volume.
Secondary transaction volume reached $226bn in 2025, up 41% year-over-year, exceeding $200 billion for the first time.
Credit secondaries annual transaction volume reached $20.0bn in 2025, nearly doubling from $10.9bn in 2024.
The secondary market reached a record $240 billion in deal volume in 2025, surpassing $200 billion for the first time and marking a 48% year-over-year increase.
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