The global secondaries market increased in value to $112 billion as of last year. And yet, according to Hogan Lovells partner Leanne Moezi, it is still a surprisingly misunderstood market.

“I think there might be a misconception that the secondaries world is similar to the private equity world generally,” Moezi says. “That there’s an old guard, and it’s dog-eat-dog and adversarial, but that’s just not the case at all.”