• Evercore (NYSE:EVR) released its 2025 Credit Secondary Market Survey, highlighting record activity in private credit secondaries.
• The survey points to GP led deals surpassing LP led transactions, indicating a shift in how capital is being recycled in private credit.
• Evercore reported a significant advisory role in this market, capturing a substantial share of recent deal volume.

For you as an investor looking at Evercore at a share price of $353.27, this survey matters because it highlights a business line that sits outside routine earnings headlines. The stock shows a 22.8% return over the past year and a very large gain over the past 3 years, while the year to date move of 0.6% is more muted. Together, those figures indicate that a substantial amount of progress is already reflected in the share price, even as new data points such as this survey continue to provide additional context.

The shift toward GP led private credit secondaries gives Evercore another reference point when discussing where its advisory strengths may lie in the years ahead. If this part of the market continues to develop, investors may pay close attention to how much of that deal flow involves Evercore and how that compares with other fee drivers across the firm.

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The key takeaway from this survey is that private credit secondaries, a niche area compared with classic M&A, are becoming a much more active fee pool, and Evercore is already advising on a large slice of that activity. For you as a shareholder, the firm’s role in GP led transactions suggests it is embedded with alternative asset managers at the point where they are recycling capital. This can support advisory relevance that differs from deal cycles at peers like Lazard and Moelis.

Evercore narrative, and how this data point fits the story

The bearish and bullish narratives around Evercore both highlight pressure on traditional advisory revenue and the importance of newer fee streams such as private capital advisory, and this survey fits neatly into that theme. It gives you a concrete example of how the firm’s presence in private markets can offset some of the concerns about long term M&A headwinds, while also supporting the view that diversified advisory lines can help earnings resilience.

Risks and rewards to keep in mind

• Evercore’s involvement in a large share of private credit secondary deals points to strong client relationships in an area that is still developing compared with traditional M&A.
• The growth in GP led activity broadens Evercore’s opportunity set beyond classic sell side mandates, which can help balance revenue across different deal cycles.
• If other advisers such as Lazard, Moelis or larger banks push harder into this segment, the current share of volume Evercore advises on may face pressure from competition.
• Private credit secondaries are still evolving, so changes in regulation, structures or investor appetite could affect how durable this fee pool is for Evercore.

What to watch next

From here, it is worth tracking whether Evercore continues to report meaningful activity in private capital advisory alongside traditional deal metrics, and how often management cites private credit secondaries as a driver when discussing results. If you want a broader sense of how this fits into the long term thesis, take a look at the community narratives on Evercore by visiting the company’s narrative page and seeing how other investors are framing the story.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.