Secondaries Recruitment Agency

We don’t run generalist desks. Every mandate is handled by experts that focus solely on Secondaries, with dedicated expertise across GP-led, LP-led, and structured capital.

Soft referencing is standard, ensuring clients meet only the strongest candidates in the market.

40% of our placements are women and 72% are from minority backgrounds, well above the industry standard.

We maintain relationships with candidates who aren’t actively looking, giving clients access to people they won’t find elsewhere.

We work best with Secondaries Funds that want more than a supplier. Clients who partner with us often retain us exclusively for critical hires.

97% of placements remain after 12 months, ensuring hires are successful long after onboarding.

LP-led transactions occur when limited partners (LPs) sell their interests in private equity funds to other investors. This type of transaction allows LPs to achieve liquidity while providing buyers access to a diversified portfolio of fund interests.

In GP-led secondaries, the general partner (GP) initiates a process to provide liquidity or extend the life of a fund. These transactions often involve complex processes such as fund restructurings, continuation vehicles, or recapitalisations of existing assets. This segment has seen rapid growth and can include deals like single-asset continuation funds or multi-asset solutions.

Direct secondaries (also known as direct transactions or secondary directs) involve the sale or transfer of ownership stakes in individual companies, rather than in private equity funds. These are often shares sold by existing shareholders or early investors, providing liquidity and access to later-stage or more mature companies.

Fund recapitalisations involve restructuring an existing fund, where a general partner rolls over current assets into a new fund vehicle, offering liquidity options to existing limited partners. This approach allows GPs to maintain ownership while continuing to manage the assets, offering flexibility for LPs.

Structured secondaries involve complex financing arrangements such as preferred equity or debt structures, designed to provide liquidity solutions without the full sale of fund interests. These deals allow for capital to be injected into the fund while retaining upside potential for original investors.

Net Asset Value (NAV)-based financing enables funds to borrow against the value of their portfolio companies, creating liquidity while maintaining the underlying investments. This method is increasingly used by GPs seeking to unlock value without a full secondary sale.