Ares Management

Geopolitical uncertainty and pricing disconnects keep dealmakers on the sidelines—with little expectation of a near-term rebound.

Private equity’s secondaries market is bigger and more liquid than ever, but as record volumes collide with rising NAV leverage, getting deals done now hinges less on price and more on approvals, compliance and execution.

Investors say market dislocation, rising rates and volatility are creating opportunity for this group of private investors.