Continuation-fund-related exit count

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For Q1 2026, we tracked 38 exits through continuation funds totaling $10.8 billion when including estimates for nondisclosed transactions. This compares to 36 continuation fund-related exits in Q1 2025, demonstrating the similar velocity at which the industry continues to use GP-led secondaries as a tool for portfolio management. A notable multi-asset continuation fund in Q1 was Meridiam’s rollover of 22 assets. The firm closed over €2 billion for a European infrastructure continuation fund, which will include infrastructure assets across 10 European countries.