Sales of second-hand private-equity fund stakes that are initiated by fund managers, including staples and restructurings, have increased sixfold since 2012 and are expected to reach around $10 billion this year, according to a report by Credit Suisse’s private funds group.

Manager-led secondaries are now estimated to make up 25% of total secondaries market volume, which is expected to hit $38 billion, similar to last year's total, according to Credit Suisse's Secondary Market Update.