Secondaries transactions have become increasingly popular as a solution for LP liquidity across the private investment funds industry. For decades, the term "secondaries" has been used to broadly cover a wide range of transaction types across asset classes and investment strategies. However, with the development of various individual market segments, casual reference to the "secondaries market" risks obscuring key differences in how such transactions are structured and transacted for specific asset classes and investment strategies. Private Investment Funds partners Krishna Skandakumar and Lia Schmidt, and Private Equity partner Jamie Hutchinson explain more in Reuters.