About this episode

The episode discusses the evolving landscape of LP secondaries in private equity and their potential advantages over traditional buyouts.

What if the biggest opportunity in private equity today isn’t buying companies—but buying liquidity from investors who are forced to sell great assets for reasons unrelated to performance? In this episode, I sit down with Ryan Levitt, Co-Head of LP Secondaries at ICG, to discuss why secondaries have evolved into one of the most attractive areas in private markets. Ryan explains how LP secondaries can outperform traditional buyouts with lower downside risk, why DPI pressures are reshaping institutional portfolios, and how rules-based allocators create structural inefficiencies. We also explore return dispersion, continuation vehicles, GP relationships, and why access and information matter more than sourcing in modern secondaries investing.

People in this episode

Host: David Weisburd

Guest: Ryan Levitt

Topics covered

• private equity
• LP secondaries
• institutional portfolios
• investment strategies
• market liquidity

Keywords

• LP secondaries
• private equity
• investment liquidity
• DPI pressures
• return dispersion

Mentioned in this episode

Organizations: ICG

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