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This episode is sponsored by UBS Asset Management and Proskauer Rose

The global secondaries market has grown from roughly $47 billion in 2014 to more than $100 billion today. In Europe, fragmentation has led to some significant regional differences. However, it is also clear that many of the trends and dynamics found in the European market are the same as in North America – indeed, some of these developments occurred there first.

In the penultimate episode of the Decade of Secondaries Investing podcast miniseries, we sit down with Jochen Mende, an executive director responsible for secondaries transactions at UBS Asset Management, and Bruno Bertrand-Delfau, partner and co-head of secondaries transactions and liquidity solutions at Proskauer Rose.

The pair discuss how the European secondaries market has developed over the past decade, how it compares with the North American market and what’s in store for GP-led and LP-led transactions globally.

For full coverage of our Decade of Secondaries Investing series, including all podcast episodes and an interactive timeline, click here.

SI Decade: Europe’s appeal and the evolution of specialisation