Jefferies Credit Partners is seeking about €1 billion ($1.16 billion) for a private credit secondaries fund structured as a continuation vehicle, or staple deal. The fund is expected to combine roughly €500 million of investor equity with another €500 million of leverage, purchase loans previously originated by Jefferies Credit Partners and allocate capital to new lending opportunities. Jefferies advised on the transaction, which would allow capital to be reinvested on an ongoing basis. The strategy comes as private-credit secondary-market activity expands: transaction volume reached $15 billion in 2024, five times the 2019 level, and advisors project volumes of $28 billion by 2026 and more than $50 billion by 2030. Recent transactions by Pantheon, Ares Management, GIC Pte, Pantheon Ventures and Benefit Street Partners show growing use of secondaries for liquidity and portfolio management.