Secondaries Desk is a record of GP-led secondary transactions, described field by field, with the evidence behind every value.
It covers continuation vehicles and the transactions around them: the sponsor, the selling fund, the lead investor and its syndicate, the assets, the advisors, and the dates and amounts that were actually reported.
Values are not smoothed. Estimates and approximations are explicitly marked, and a value that was not disclosed stays undisclosed rather than being inferred.
Nothing appears in the database until a person has reviewed the complete record against its sources and approved it for publication.
What is inside
One table, one detail view, and the evidence underneath both.
Transactions
A single table across a locked contract of fields. Search targets, sponsors, funds and sectors; filter by year, structure, sponsor, sector, geography and status; sort any column.
ExploreMetrics
A read-only projection of the canonical performance fields already held in the record. Nothing is calculated, imputed or aggregated there.
ExploreFact-level sources
Selecting a value shows the source it was taken from: its publisher, its type, and how it can be accessed. Sources attach to values, not to rows.
ExploreMulti-asset records
When a continuation vehicle holds several assets, each asset is described in its own row beneath the transaction, with its own dates, multiples and enterprise value.
ExploreProvenance
Every value carries the evidence behind it, and says what kind of value it is. The difference between a reported figure, an estimate and a figure that was never disclosed is part of the record, not a footnote to it.
How a value is qualified
- Reported
- The value was stated by a source and is shown as it was stated.
- ⓔ Estimate
- The value is an estimate. It carries the mark everywhere it appears.
- ~ Approximation
- The value is approximate. It carries the mark everywhere it appears.
- N/A
- The value was not disclosed, or no source supports it. It is never inferred from something else.
How a transaction gets in
- Research
- Candidates are identified from public reporting, sponsor and advisor communications, and regulatory material.
- Sourcing
- Each field is attached to the source supporting it, together with its precision and its confidence.
- Review
- A person reviews the complete record against its sources before it becomes eligible for publication.
- Publication
- Only records that are both verified and approved for publication appear.
Questions
What is a GP-led secondary transaction?
A liquidity transaction initiated by the fund manager rather than by an investor selling its fund interest. The manager organizes the transfer of one or more assets out of an existing fund, usually into a continuation vehicle funded by secondary buyers, and the fund's existing investors elect either to sell their exposure or to roll it into the new vehicle.
What is a continuation vehicle?
The new fund that holds those assets. It can hold a single asset or several, and both are recorded here, with each asset described separately.
What does Secondaries Desk cover?
GP-led secondary transactions, continuation vehicles first. Sponsor-to-sponsor buyouts are a different category and are not recorded as secondaries.
Where does the data come from?
Public reporting, sponsor and advisor communications, and regulatory material. Every value names the source it came from.
Do I need an account?
Not to view the published Transactions and Metrics tables. An account is required to interact with values, open details or sources, or use product controls. Accounts require email confirmation.
What does N/A mean in a record?
That the value was not disclosed, or that no source supports it. It never means zero, and it is never quietly replaced by an estimate.
Built for people who need to know what happened in a transaction, and where that knowledge comes from.