The Satellite - Edition 40 - January 2025 - Moonfare
Welcome back to the first edition of The Satellite in 2025! We hope your year is off to a great start.
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Secondaries dealmakers certainly have plenty to be optimistic about if last year’s performance is any guide.
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It was a record-breaking 12 months, with transaction volume surpassing $152 billion — nearly 40% higher than the previous year, according to Lazard.1 ?
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So, what’s next for secondaries in terms of pricing, asset quality and returns? We spoke with Philip Meschke, Moonfare’s Head of Investments, to get the answers.?
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Meanwhile, President Trump’s second term is off to a busy start, with a wave of executive orders — some of which might reshape the world trading system.
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What could Trump’s agenda mean for private assets? Mike O’Sullivan breaks down the potential implications.?
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Happy reading!
Your Moonfare team
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Secondaries in private equity remain undercapitalised
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There’s plenty of room for secondaries to grow beyond their current 1.2% share of the private markets, says Philip Meschke, Moonfare’s Head of Investments.?
Trump's trade agenda: what it means for private equity
Fiscal discipline, China risks and strategic autonomy will shape 2025
How the defence sector is attracting growing investment
Moonfare invests in a leading producer of water pump systems
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