Brooke highlighted how CVs have evolved from a niche liquidity solution into a mainstream exit channel in the US and Europe, while they remain at an earlier stage of development in many markets in Asia. She also pointed to untapped potential in the small to mid-market segment, where GP knowledge of CVs is still developing.

Looking ahead, Brooke expects CVs to remain a central feature of the secondaries market, both as a liquidity tool and as a way to support fundraising. At the same time, she emphasized that alignment between GPs, LPs and buyers is critical to their success.

Listen to the podcast here.