{{item.videoDuration}}
{{item.title}}
{{item.text}}
{{item.videoDuration}}
{{item.text}}
Private credit secondaries are rapidly moving from niche strategy to mainstream products in asset and wealth management. As investor demand for liquidity intensifies and the market attracts a growing mix of managers and investor types, tax leaders are being pulled into complex structuring conversations early — positioning them to stay ahead of evolving deal dynamics. In this audiocast, PwC’s Amy McAneny and Mindi Lowy break down what’s driving the momentum and what tax teams can do now to prepare for a surge in private credit secondaries.
Key takeaways
- Private credit secondaries are accelerating: 2025 is projected to be the most active year yet for capital raised in this space.
- Liquidity demand is fueling growth: Investors looking to exit private credit vehicles need the secondary market to unlock liquidity options.
- Specialization is reshaping funds: Managers are launching secondary vehicles focused exclusively on private credit, shifting away from mixed asset approaches.
- Tax structuring starts at the fund level: Buyers inherit the seller’s position mid-fund life, so tax planning has to happen at the secondary level.
- Understanding the investor base is critical: Tax considerations vary significantly based on whether funds include offshore or insurance investors.
Segmented topics with timestamps:
- 1:17 – Market momentum in secondaries
- 2:36 – Rise of retail and permanent capital
- 3:16 – Specialization trend emerges
- 4:49 – What is a private credit secondary?
- 6:08 – Key tax considerations for secondaries
- 7:39 – Rated feeders and opportunity for insurance investors
- 8:54 – What to do if you don’t have this product yet
- 09:46 – Final takeaway
US Tax Services
Activate tax strategy with clarity and foresight
Private Equity Tax
A customized approach for your tax challenges
PwC’s Next in perspectives
Finance is shifting from reacting to redefining—reshaping how value is created, managed, and protected amid accelerating innovation and evolving regulations.
{{filterContent.facetedTitle}}
{{contentList.loadingText}}
{{contentList.loadingText}}
Follow us
