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Edward Goldstein on the secondary market

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15 min
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Secondary market is at a stage where it’s starting to show a level of consistency in transaction volume.

Edward Goldstein

This month our guest is Edward Goldstein, Partner, CIO of Coller Capital Secondaries, a leading investor in the secondary market for private assets.

In the wake of the global financial crisis, the private credit landscape experienced a seismic shift. As the secondary market gained traction, it began to offer liquidity solutions for investors in the private credit space. Investors, motivated by reasons such as underperformance, regulatory concerns, liquidity needs, stress, and opportunistic selling, started to explore this emerging avenue for portfolio management.

The discussion shifts to credit secondaries being more of an LP market, investing for upside potential, and the necessity of diversified portfolios to mitigate risk. In essence, the private credit market, though relatively young, is showing signs of maturation and paving the way for a future characterized by specialization, strategic partnerships, and a more developed secondary market.

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