Lazard Private Capital Advisory has released its Sponsor-led Secondary Market Report for 2021. The report provides an overview of the current state of the sponsor-led secondary market, including market trends, deal activity, and investor sentiment. The report notes that the market has seen a significant increase in deal activity in recent years, driven by a number of factors, including the growth of private equity funds and the increasing availability of capital. The report also highlights the importance of due diligence in sponsor-led secondary transactions, and provides guidance on best practices for sponsors and investors. Overall, the report provides valuable insights for those involved in the sponsor-led secondary market.