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Secondary market deals down nearly 10% in first half of 2016 — report

Deals on the alternative investment secondary market dropped 9.7% to $18.6 billion in the first half of this year from $20.6 billion in the first half of last year, said the secondary market broker Setter Capital's volume report released Monday.

The expected total volume for all of 2016 is $39.7 billion, a 20% drop from 2015.

The data come from surveys taken in July of 83 of the largest buyers of alternative investment interests on the secondary markets.

Among the various alternative investment asset classes trading on the secondary market, real estate sales had the largest drop from the first half of 2015, falling 36.7% to $1.8 billion. Hedge fund secondaries were down 13.1% to $410 million as side pocket supply continued to evaporate, the Setter report noted. Private equity secondary market transactions were down 7.3% from the first half of 2015 to $15.3 billion, and agriculture and timber deals on the secondary market decreased 1.5% to $224 million.

Infrastructure secondary transactions rose 40% to $860 million. Energy fund deals, which are included in infrastructure, dipped 4% to $350 million.

Venture capital fund secondaries, which are included in private equity, increased 55% to $1.2 billion in the first half from the first half of last year.