David Weisburd

And thanks so much for making time.

Thanks so much.

This helps more investors discover the show and keeps us bringing you these conversations week after week.

Thank you for your continued support.

So, Ben, you help lead the 90 person secondaries team at Jefferies, which is largely focused on the continuation vehicle space today.

Why is there such a focus on continuation vehicles today?

Is there an 80-20 aspect to this $110 billion where there's a few firms driving the majority of that behavior?

And I want to get into, in a little bit, deconstructing what a typical continuation vehicle deal looks like.

But first, why this trend for continuation vehicles

Why has there been such an increase in volume over the last couple of years?

One of the hardest things of investing is seeing what's shifting before everyone else does.

For decades, only the largest hedge funds could afford extensive channel research programs to spot inflection points before earnings and to stay ahead of consensus.

Meanwhile, smaller funds have been forced to cobble together ad hoc channel intelligence or rely on stale reports from sell-side shops.

but channel checks are no longer a luxury.

They're becoming table stakes for the industry.

The challenges has always been scale, speed, and consistency.

That's where AlphaSense comes in.

AlphaSense is redefining channel research instead of static point in time reports.

AlphaSense channel checks delivers a continuously refreshed view of demand, pricing, and competitive dynamics powered by interviews with real operators, suppliers, distributors, and channel partners across the value chain.

Thousands of consistent channel conversations every month deliver clean, comparable signals, helping investors spot inflection points weeks before they show up in earnings or consensus estimates.