A new era for market expansion: Spotlight on real estate secondaries

Alongside private credit, the secondaries market has caught the eye of many investors in recent years, offering more flexibility and opportunities for liquidity and portfolio optimisation. With particularly liquidity continuing to be challenging, more existing LPs and GPs might consider turning to real estate, an evolving space within secondaries.

At SuperReturn Secondaries Europe 2025, we spoke to Kilian Toms, Managing Director, CBRE Investment Management, about the development within real estate secondaries including the expanding definition of secondaries, how it can balance out some of the challenges in broader private markets, how he expects growth to balloon in the future. Watch the interview below to catch up on real estate secondaries: