Episode Summary
Secondaries have emerged as one of the fastest-growing segments within private capital, offering investors potential access to liquidity and flexibility in an asset class traditionally known for long holding periods. In this episode, Rob Olsen is joined by Nicola Wealth’s Tori Buffery and Adrian Millan, Partner at PJT Park Hill in New York, to explore how this market is evolving and what it means for today’s investors.
Together, they explain the fundamentals of LP- and GP-led secondaries, discuss the increase in transaction volume, and examine the structural and market trends shaping the space. Tori shares how Nicola Wealth approaches GP-led secondaries, while Adrian offers a global view informed by years of experience advising institutional clients.
They also discuss the role of innovation in deal execution, recent shifts in capital flows, including interest from retail and insurance investors, and the unique position Canadian investors hold in the broader market.
Episode Featured on:
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Disclaimer
This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM Fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.
