Mumbai, Aug. 25 -- The Indian investment ecosystem is likely to see a growing appetite for concentrated continuation vehicles (CVs), including single-asset CVs, over the next three to five years as the market has already started to show early signs of maturity, much like its global peers, Mamtesh Sugla, managing director at TPG NewQuest, told Mint in an interview.

A CV typically helps investors hold on to successful portfolio companies, or trophy assets, that need time beyond the fund's life cycle to reach their full potential.

CVs represent the evolution of the secondary market and are a type of general partner (GP)-led transaction. Traditionally, the most common type of secondary deal is an LP-led transaction, in which a limited partn...