Continuation vehicles (CVs) have evolved from niche solutions into mainstream strategies in private equity. These structures—new funds typically managed by the same sponsor that acquire assets from an older fund—are no longer just a workaround for stalled exits. They’ve become a strategic tool for unlocking liquidity while preserving upside on high-conviction investments.

Traditional exit routes like IPOs and M&A have faced headwinds, leaving sponsors searching for alternatives that don’t force premature sales. CVs offer a solution: extend ownership, optimize timing, and keep compounding returns alive. When executed well, they’re not a one-off fix but a scalable capability that differentiates sponsors. READ MORE