WHAT WE DO
We acquire interests in funds across asset classes, offering liquidity to investors, and co-invest alongside managers globally.

​

Trusted Counterparty
Sellers and general partners view us as a trustworthy and well-respected counterparty that is able to transact on a fair, timely and confidential basis. We believe our reputation and ability to execute quickly are powerful competitive advantages.

​

Diversified Approach
We have executed many types of transactions, from single-fund transfers to complex portfolio solutions and direct investments. We clearly define the objectives for each investment and pursue it only if it makes sense for everyone involved.

​

Information Advantage
Detailed, bottom-up analysis is mission-critical to our success. As one of the most active participants in the secondary market, we are able to utilize our extensive global network and deep industry knowledge to conduct thorough due diligence on each opportunity.

​

Our Strategies

Private Equity
We purchase secondary interests in mature, high-quality private equity funds from investors seeking liquidity. We also co-invest alongside a range of private equity managers. By acquiring portfolios diversified across sector, vintage year and geography, our consistent investment approach has yielded attractive risk-adjusted returns for the past 19 years.

Infrastructure
We focus on acquiring secondary interests in mature infrastructure and real asset funds in addition to providing capital to tactical general-partner-led transactions and fund/asset recapitalizations. We target brownfield assets with core and core-plus risk profiles, while capitalizing on our favorable positioning in the high-growth infrastructure secondary market to create compelling risk/return asymmetry. We seek to unlock a range of opportunities across the following sectors: transport, regulated utilities, midstream, renewables, telecommunications and social infrastructure.

Real Estate
We seek significant capital appreciation through the acquisition of secondary interests in real estate funds and assets, focusing on high-quality portfolios in major commercial real estate markets and gateway cities, while capitalizing on the relatively fragmented competitive environment for real estate secondaries. We also opportunistically make secondary direct investments alongside proven sponsors, inject capital into select general-partner-led transactions, assess fund recapitalization opportunities and evaluate direct co-investments in real estate assets.

Impact Investing
Our Impact Investing platform will make investments in mission-oriented businesses and managers, directly targeting meaningful, measurable social and environmental outcomes alongside financial returns. Guided by four investment themes – Health & Wellbeing, Financial Access, Sustainable Communities and Green Technologies – we seek to gain exposure to impact investments via co-investments alongside a wide range of financial sponsors.