The advisor expects evergreen funds to attract $25 billion of inflows over the next 12 months, $11 billion of which will likely be deployed into secondaries.
Nine of fifteen tracked vehicles received requests above the 5% repurchase threshold, with previously unfulfilled tenders continuing to weigh on liquidity.
Davis Polk highlights the contractual remedies, SEC enforcement powers, and state-law claims relevant to investors in '40 Act funds.
The credit secondary market more than doubled in volume YoY in H1, already surpassing the record deal flow for all of 2025.
The market's expansion has been fueled by the continued adoption of evergreens across institutional and wealth channels, supported by the growing availability of semi-liquid and '40 Act structures.
RSM examines the fundraising, regulatory, and distribution trends driving increased adoption of evergreen fund structures.
Kennedys explores how growing insurance allocations to private credit are reshaping the BDC market and influencing risk, leverage, and capital formation.
Morgan Lewis analyzes how the SEC's latest proposal could broaden fundraising flexibility and reduce regulatory friction for alternative investment vehicles.
McDermott analyzes how private credit funds balance investor access and portfolio stability through differing liquidity and redemption frameworks.
Adams Street argues that rising redemptions appear to reflect uncertainty stemming from limited transparency, rather than underlying fundamentals.
