Perspectives

Pickleball’s distinctive pop now echoes from parks, resorts, gyms, and neighborhoods nationwide, reflecting its rapid rise from a niche pastime to a cultural phenomenon. With millions of new players, sold‑out championships, major media coverage, celebrity investors, and a multibillion‑dollar market trajectory, it has become America’s fastest‑growing sport.

A continuation vehicle (“CV”) is a newly formed investment fund that allows a general partner (“GP”) to transfer assets into a new structure to extend the investment horizon while offering liquidity to existing limited partners (“LPs”).

Recently, there’s been significant volatility in the public market, raising concerns about longevity for many companies in the face of artificial intelligence (AI) advances. This has led to meaningful sell-offs—often in ways that appear disconnected from company-specific fundamentals.

The real estate secondaries market continued its strong growth in 2025, reaching a record $20.3 billion in total volume.