The secondaries puzzle

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There are signs of growth in the debt secondaries market, but investors appear less then enthusiastic about new commitments.

Nearly all the indicators seem to be going one way: increased appetite for private credit secondaries. In this context, the record $1.4 billion fundraising for Coller Capital’s Credit Opportunities I fund last week was no great surprise. The vehicle raked in almost double the $750 million it set out to achieve in May last year.