After years of working in the industry, including time at one of the leading secondaries firms, I saw a clear gap: secondaries are under-discussed, under-explained, and misunderstood — even by many within the broader private equity community.
This blog aims to change that.
Why This Blog Exists:
Private equity secondaries have become a core part of the private markets landscape. What started as a solution for LP liquidity has evolved into a strategic tool used by both LPs and GPs to actively manage portfolios, extend holding periods, and create liquidity where it’s needed.
More firms are building secondaries platforms. More capital is being raised for the strategy. And more professionals are entering the space — often with limited accessible resources to learn from.
I started this blog because I’ve been in that position. When I first prepared for secondaries interviews, I struggled to find content that explained how deals actually work — how to analyze a continuation fund, how pricing is determined, how to think about risk. Most resources were either vague or too academic.
PE2 Insight is my attempt to close that gap — and provide the kind of content I wish existed when I started.
What You’ll Find Here:
- Clear breakdowns of secondaries strategies — LP-led, GP-led, strip sales, tender offers, preferred equity, and structured solutions.
- Real-world insights from the deal table — what goes right, what often goes wrong, and why nuance matters.
- Data-driven analysis — trends in pricing, NAV discounts, fund vintage patterns, and exit dynamics.
- Career & interview resources — practical guides for those aiming to break into secondaries, from interns to mid-levels.
- Tactical resources — templates, valuation frameworks, diligence checklists, and educational downloads for LPs, analysts, and founders.
Coming Soon:
- Understanding the Market
Clear explanations of LP-leds, GP-leds, tender offers, structured deals, and how they fit into the broader PE ecosystem - Breaking into Secondaries
Practical advice for job seekers: interview prep, role expectations, technicals, and case study walkthroughs - Deal Mechanics & Frameworks
A closer look at how secondaries are structured, priced, and negotiated — from NAV waterfalls to preferred equity terms - Tools & Templates
Downloadable materials: pricing calculators, red flag trackers, and diligence checklists - LP Corner
Guidance tailored for allocators: how to evaluate secondaries funds, ask the right questions, and benchmark risk-adjusted returns
PE2 Insight 