Need to exit your AIF commitment before the 10-year lock-in ends? The **secondaries market** provides a mechanism for this. It is a market where investors can sell their existing commitments in private funds to other investors.
For the seller, it provides an unexpected source of liquidity. For the buyer, it offers a chance to invest in a fund that is past the initial J-Curve phase and get immediate exposure to a matured portfolio. This market is growing rapidly, providing a welcome layer of flexibility to the illiquid private market.
