Our core service is LP-led secondaries. We help clients unlock capital by executing competitive sales processes with institutional secondary buyers.
The most common transaction is a full transfer of a fund interest from a client (seller) to a buyer at an agreed price. The buyer takes on the remaining unfunded obligation and receives future distributions from the fund. The illustration shows how such a transaction typically works.
Mechanics of a Classic Secondary Sale
We also advise on a range of other types of secondary transactions, including:
Stapled Transactions: pairing a fund sale with a new commitment
Mosaic Deals: selling a selection of fund interests across managers
Full Portfolio Sales: exiting multiple fund positions at once
Strip Sales: selling a slice of a portfolio to rebalance exposure or generate liquidity
Direct Secondary Sales: selling shares in private companies held directly
Why Clients Sell
Every client has a different reason for selling, but the most common are:
Liquidity
Free up capital for new opportunities or unexpected needs
Consolidation
Streamline portfolios by reducing GP relationships and related oversight
Co-Investments
Access co-investments by recycling into newer funds
Portfolio Management
Rebalance exposures, exit legacy funds, and redeploy capital
Governance & Change
Adapt to new leadership, succession, or corporate M&A
Market Opportunities
Act on dislocations, pricing windows, or other external events
Who We Work With
Family Offices
High Net Worth Individuals
Corporates
Institutional Investors
Simplicity
Break things down to the essentials.
Explain in plain words.
Our Values
The same principles guide every client engagement:
Reliability
We say what we’ll do.
We do what we say.
Discretion
Your business stays your business.
Confidentiality is absolute.
Alignment
Client first. Period.
No conflicts of interest.
Quality
Run world-class sales processes with institutional buyers.
Give advice we can stand behind.