Why are investors leaning into evergreens? Evergreen funds offer ongoing subscription/redemption flexibility, smoother deployment, potentially mitigate the J-curve, and institutional private market exposure that integrates alongside public-market portfolios, with two models emerging:
Single-GP evergreen funds: Efficient and aligned with one house view but inherently concentrated
Multi-GP evergreen funds: Diversified across managers, strategies, vintages, and geographies, support faster deployment (via secondaries and co-investments)
For allocators balancing liquidity, deployment pace, and forward returns — secondaries, particularly multi-manager, diversified approaches — offer a powerful way to compound capital while mitigating timing and concentration risks.
We explore how to integrate these approaches into modern portfolio construction in our latest article.
