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Secondary market in Asia sees pickup in activity as players search for liquidity

No lack of choice deals for secondary funds as global demand outstrip supply

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Benjamin Cher

Benjamin Cher

Published Mon, Apr 6, 2026 · 07:00 AM
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    • Investors in Asia are warming up to secondary markets as part of their portfolio, said private markets players.
    • Investors in Asia are warming up to secondary markets as part of their portfolio, said private markets players. PHOTO: BT FILE

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    [SINGAPORE] The secondary market in Asia has been picking up as investors and fund managers seek liquidity.

    Usually, the general partner (GP) – the fund manager – will have a close-ended fund with a typical 10-year tenure. Limited partners (LP) – investors – will have invested in this fund.

    These funds usually have a fixed duration, after which the holdings have to be liquidated and the capital returned to the investors. As the markets have been weak, liquidation would result in the investors recognising a loss.

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