Since the global markets corrected last year, fund managers have been flocking to secondaries to unlock liquidity in their portfolios. But while several investors are putting their assets up for sale, few are getting snapped up, with the bid-ask gap remaining particularly wide for Chinese, technology, and crypto assets, say secondaries investors.
Meanwhile, the uncertainty around the timing of a global recession, the Fed’s shifting stance on rate hikes, and China’s sudden re-opening amid an ongoing tech war with the US are leading to an overall reluctance among Asian fund managers to price their investments.
