• Abbott Capital published a July 2026 analysis on private equity secondaries, framing returns around value appreciation, diversification, discounts, leverage, recycling.
• Discount-driven marks can inflate early performance: buying at 90% of NAV implies 1.11x MOIC at close, 53.3% IRR after one quarter.
• That discount-only IRR falls quickly with time, dropping to 7.3% about 1.5 years post-close, absent underlying value change.
• In a base-case example, a 10% discount lifts MOIC to 1.78x from 1.60x at par, holding asset appreciation constant.
• Transaction leverage can raise returns, but a roughly three-year distribution delay can almost eliminate the initial leverage benefit.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Abbott Capital Management LLC published the original content used to generate this news brief on July 01, 2026, and is solely responsible for the information contained therein.