The Expanding Role of Secondaries – Takeaways from HPE Miami 2026

The Revelation Partners team was back in South Beach, Miami on March 4-5 for this year’s HPE Miami conference, joining a growing group of private equity investors and advisors gathering to discuss the evolving healthcare investment landscape. With fundraising conditions remaining challenging and LPs increasingly focused on distributions, one theme surfaced repeatedly: liquidity. Secondary transactions, and continuation vehicles in particular, featured prominently throughout panels and discussions. The broader market data reflects this shift as well. Global secondary transaction volume reached approximately $225 billion in 2025, representing a roughly 45% increase from the prior year and marking a record for the market.

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Source: https://revelation-partners.com/hpe26takeaways/

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