GUIDE TO SECONDARY BUYERS & PLACEMENT AGENTS 2017 Guide to Secondary Buyers & Intermediaries
FEATURES OTHER INDICES Secondary Buyers Survey 3 Secondary Firms, By Type of Investments Desired 48 Guide to Secondary Buyers 5 Secondary Firms, By Geographic Preference 49 Guide to Secondary Intermediaries 43 Secondary Firms, By Preferred Age of Fund Investments 50 Secondary Guide Index 46 Secondary Intermediaries Index 47 SECONDARY BUYERS Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 3 GUIDE TO SECONDARY BUYERS
17CAPITAL 747 CAPITAL SCOPE OF OPERATIONS MAIN OFFICE MAIN OFFICE Year group began doing secondary deals: 1987 Number of employees working on secondary deals: 15 32 Grosvenor Gardens 880 Third Avenue Does your firm manage funds of funds? Yes London 17th floor Preferred secondary investment range: SW1W 0DH New York, NY 10022 • Minimum (US$millions): 1 UK USA • Maximum (US$millions): 80 17capital.com www.747capital.com +44 (0) 20 7493 2462 212-747-7474 DESCRIPTION OF SERVICES +44 (0) 20 7529 1908 Abbott was founded in 1986, with an objective of PERSONNEL providing long-term continuity and accountability PERSONNEL Gijs van Thiel to private equity portfolio management. Since its Pierre-Antoine de Selancy Managing Partner founding, the firm has focused solely on private Managing Partner [email protected] equity investment and management, and builds [email protected] diversified portfolios of primary and secondary Joshua Sobeck private equity investments across buyouts, growth Augustin Duhamel Partner equity, venture capital, and special situations Managing Partner [email protected] funds. Historically, Abbott had included secondary [email protected] Marc der Kinderen investments in its diversified portfolios of private Robert de Corainville Managing Partner equity fund interests. With the implementation of Partner [email protected] this dedicated ASO strategy, Abbott will build on [email protected] its broad knowledge of private equity investment SCOPE OF OPERATIONS developed over 30 years, maintaining its focus Beate Pelz Year group began doing secondary deals: 2008 on smaller transactions where Abbott may have Investor Relations Director Number of employees working on secondary deals: 3 relationship or information advantages. ASO will [email protected] Does your firm manage funds of funds? Yes allow Abbott to pursue interests in fund managers SCOPE OF OPERATIONS Preferred secondary investment range: with which Abbott has invested previously, as well as • Minimum (US$millions): 0.5 fund managers that are new to Abbott’s platform. Year group began doing secondary deals: 2008 • Maximum (US$millions): 10 Names of some of your institutional backers: DESCRIPTION OF SERVICES DESCRIPTION OF SERVICES Abbott has a broad range of institutional investors, 17Capital provides flexible short-to-medium term including: Public Pension Plans Corporate Pension Do you use leverage in your secondary deals? No financing for investors in private equity portfolios. Plans Endowments Foundations Taft-Hartley General and Limited Partners can raise capital Do you use leverage in your secondary deals? No for new investments or reduce their PE exposure, while avoiding the constraints of debt financing or a secondary sale. 17Capital can invest up ABBOTT CAPITAL MANAGEMENT, LLC to €300 million in concentrated or diversified MAIN OFFICE ADAMS STREET PARTNERS, LLC global portfolios, and has completed close to 30 transactions in Europe and North America. The 1290 Avenue of the Americas MAIN OFFICE firm has an international team of 17 professionals 9th Floor 1 N Wacker Dr Ste 2200 with both private equity and banking experience. New York, New York 10104 Suite 2200 17Capital has €800 million AUM across 3 funds. United States of America Chicago, IL 60606 www.abbottcapital.com United States of America 212-757-2700 www.adamsstreetpartners.com 212-757-0835 +1 (312) 553-7890 50 SOUTH CAPITAL ADVISORS LLC PERSONNEL +1 (312) 553-7891 MAIN OFFICE Meredith Rerisi PERSONNEL Affiliated company: Northern Trust Managing Director Jason S. Gull, CFA 50 South LaSalle St. [email protected] Partner & Head of Secondary Investments Chicago, IL 60603 Martha Cassidy [email protected] United States Director www.50southcapital.ntrs.com Jeffrey B. Akers [email protected] Partner PERSONNEL Jonathan Roth [email protected] Managing Director, President Adam Freda Troy L. Barnett, CFA Senior Vice President Leonard Pangburn Partner [email protected] Managing Director [email protected] Nick Lawler Jobst Klemme Joseph P. Goldrick Vice President Director Partner [email protected] [email protected] BRANCH OFFICE(S) SCOPE OF OPERATIONS Gregory J. Holden Abbott Capital Management (Europe), LLP Partner Year group began doing secondary deals: 2004 53 Davies Street [email protected] Secondary capital invested in 2016 (US$millions): 126 London Amount of secondary capital you expect to invest W1K 5JH Pinal Nicum in 2017 (US$millions): 100 United Kingdom Partner Preferred secondary investment range: [email protected] • Minimum (US$millions): 1 • Maximum (US$millions): 30 4 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 GUIDE TO SECONDARY BUYERS
J. Gary Fencik AKINA PARTNERS ALPINVEST Partner & Head of Business Development [email protected] MAIN OFFICE MAIN OFFICE Charlie Denison Sihlstrasse 20 Jachthavenweg 118 Principal Zurich 1081 KJ Amsterdam [email protected] ZH Amsterdam 8021 Netherlands Kristof Van Overloop CH www.alpinvest.com Senior Associate http://www.akinapartners.com/home/ +31 20 540 7575 [email protected] 41442201625 +31 20 540 7500 BRANCH OFFICE(S) SCOPE OF OPERATIONS BRANCH OFFICE(S) London Year group began doing secondary deals: 2008 AlpInvest US Holdings, LLC 75 Davies St Number of employees working on secondary deals: 8 299 Park Avenue 4th Floor Does your firm manage funds of funds? Yes 35th Floor London Preferred secondary investment range: New York, NY 10171 W1K 5JN • Minimum (US$millions): 2.5 USA United Kingdom Singapore DESCRIPTION OF SERVICES #14 02 Raffles City Tower Do you use leverage in your secondary deals? No 250 North Bridge Rd ALTERNATIVE INVESTMENT MANAGEMENT, Singapore LLC 179101 Singapore ALLIANZ CAPITAL PARTNERS MAIN OFFICE Menlo Park MAIN OFFICE 757 Third Avenue 2500 Sand Hill Rd 12th Floor Suite 100 1633 Broadway New York, NY 10017 Menlo Park, CA 94025 42nd Floor www.aim13.com United States of America New York, NY 10019 212-557-6191 USA 212-937-3113 Beijing http://www.allianzcapitalpartners.com/en/ Level 24 Tower 3 China Commerce Central Pl 212.938-0630 77 Jianguo Rd Chaoyang District PERSONNEL ANGELO GORDON & CO. Beijing Martin Liebich 100025 Director MAIN OFFICE China [email protected] 245 Park Ave Tokyo Worth Groome New York, New York 10017 Shin-Kokusai Bldg 4F, 4-1 Director United States Marunouchi 3-chome [email protected] 212-692-2152 Chiyoda-ku Tokyo BRANCH OFFICE(S) 100 0005 Allianz Capital Partners GmbH Japan Theresienstrasse 6-8 ARCIS GROUP Munich 245 Park Avenue MAIN OFFICE Manhattan, New York 10019 D-80333 USA Germany 170-173 Piccadilly London SCOPE OF OPERATIONS Allianz Capital Partners GmbH Singapore Branch 12 Marina View #14-01, Asia Square Tower 2 W1J 9EJ Year group began doing secondary deals: 1986 Singapore United Kingdom Number of employees working on secondary deals: 12 18961 www.arcisgroup.com Does your firm manage funds of funds? Yes Singapore 44-20-7494 2110 Preferred secondary investment range: 44-20-7494 2105 • Minimum (US$millions): 5 SCOPE OF OPERATIONS PERSONNEL • Maximum (US$millions): 300 Year group began doing secondary deals: 1999 Arnaud Isnard DESCRIPTION OF SERVICES Number of employees working on secondary deals: 21 Does your firm manage funds of funds? No Managing Partner Do you use leverage in your secondary deals? No Preferred secondary investment range: [email protected] • Minimum (US$millions): 10 Henri Isnard • Maximum (US$millions): 150 Managing Partner DESCRIPTION OF SERVICES [email protected] Do you use leverage in your secondary deals? No Mark Burch Managing Partner [email protected] Romain Bouché Partner [email protected] Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 5 GUIDE TO SECONDARY BUYERS
Andrew Healey Philippe POLETTI DESCRIPTION OF SERVICES Director Member of the Executive Comittee and Head of Mid Do you use leverage in your secondary deals? Yes [email protected] Cap Buyout [email protected] Anne Rousseau Partner & CFO Franck NGUYEN [email protected] Senior Managing Director ATLAS PEAK CAPITAL [email protected] BRANCH OFFICE(S) MAIN OFFICE Mark BENEDETTI 30 rue Galilée Managing Director 400 Montgomery Street Paris [email protected] Suite 900 75116 San Francisco, CA 94104 France Vladimir COLAS USA Managing Director 509 Madison Avenue www.atlaspeakcap.com [email protected] Suite 1602 415-967-0485 New York, N.Y. 10022 Jan Philipp SCHMITZ U.S.A. Managing Director [email protected] SCOPE OF OPERATIONS BEX CAPITAL Ingmar VALLANO 1993 Year group began doing secondary deals: Managing Director MAIN OFFICE 7 Number of employees working on secondary deals: [email protected] Does your firm manage funds of funds? No 79 rue La Boétie Preferred secondary investment range: Marie-Victoire ROZE Paris • Minimum (US$millions): 5 Managing Director 75008 • Maximum (US$millions): 100 [email protected] France www.bexcapital.com DESCRIPTION OF SERVICES Martin KESSI Managing Director PERSONNEL Do you use leverage in your secondary deals? No [email protected] Benjamin Revillon Xavier BELLOIR Managing Partner Managing Director [email protected] [email protected] ARDIAN Erwin Roex MAIN OFFICE BRANCH OFFICE(S) Managing Partner [email protected] 20 Place Vendôme ARDIAN UK PARIS 1 Grafton Street Alexis Ferrer 75001 LONDON Investment Director FRANCE W1S 4FE [email protected] www.ardian.com UNITED KINGDOM SCOPE OF OPERATIONS +33 1 41 71 92 00 ARDIAN USA 1370 Avenue of the Americas Year group began doing secondary deals: 2010 PERSONNEL NEW-YORK Number of employees working on secondary deals: 4 Dominique SENEQUIER NY 10019 Secondary capital invested in 2015 (US$millions): 35 President UNITED STATE OF AMERICA Secondary capital invested in 2016 (US$millions): 70 [email protected] Amount of secondary capital you expect to invest ARDIAN GERMANY in 2017 (US$millions): 100 Vincent GOMBAULT An der Welle 4 Name of the newest dedicated secondary fund Member of the Executive Comittee and Head of FRANKFURT-AM-MAIN you are investing from: BEX Fund II Funds of Funds and Private Debt D-60322 Amount Secured (US$millions): 115 [email protected] GERMANY Target (US$millions): 90 Dominique GAILLARD ARDIAN SWITZERLAND Open or closed? Closed Member of the Executive Comittee and Head of Bahnhofstrasse 20 Preferred secondary investment range: Direct Funds ZURICH • Minimum (US$millions): 1 [email protected] 8001 • Maximum (US$millions): 100 SWITZERLAND Do you use leverage in your secondary deals? Yes Benoît VERBRUGGHE Member of the Executive Comittee and Head of ARDIAN BEIJING DESCRIPTION OF SERVICES Ardian USA Unit 20-22, Level 47, China World Tower BEX Capital specifically invests in mature positions [email protected] No. 1 Jian Guo Men Wai Avenue in funds-of-funds and secondary funds through BEIJING Mathias BURGHARDT separately managed accounts. 100004 Member of the Executive Comittee and Head of PEOPLE’S REPUBLIC OF CHINA Infrastructure [email protected] SCOPE OF OPERATIONS BILLIONAIRE FAMILY OFFICE Olivier DECANNIERE Year group began doing secondary deals: 1999 Member of the Executive Comittee and Head of Number of employees working on secondary deals: 120 MAIN OFFICE Ardian UK Does your firm manage funds of funds? Yes 77 Harbor Drive [email protected] Name of the newest dedicated secondary fund Suite #76 you are investing from: ASF VII Jérémie DELECOURT Key Biscayne, FL 33149 Preferred secondary investment range: Member of the Executive Comittee and Head of USA • Minimum (US$millions): 500 Corporate and International Development http://BillionaireFamilyOffice.com • Maximum (US$millions): 3000 [email protected] 503-789-7901 6 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 GUIDE TO SECONDARY BUYERS
BOWSIDE CAPITAL PERSONNEL DESCRIPTION OF SERVICES MAIN OFFICE Sunaina Sinha Do you use leverage in your secondary deals? No Managing Partner 211 King Street [email protected] Suite 204 COLLER CAPITAL Charleston, SC 29401 SCOPE OF OPERATIONS U.S. Year group began doing secondary deals: 2012 MAIN OFFICE www.bowsidecapital.com Number of employees working on secondary deals: 7 116 Park Street 843-725-7500 London 212-2124-0744 DESCRIPTION OF SERVICES W1K 6AF PERSONNEL Advisor to buyers and sellers of private equity and UK real asset secondaries. www.collercapital.com Christian H. M. Albert +44 20 7631 8500 Managing Partner [email protected] PERSONNEL SCOPE OF OPERATIONS CEDAR SPRINGS CAPITAL Jeremy Coller Year group began doing secondary deals: 2009 MAIN OFFICE Chairman / CIO Number of employees working on secondary deals: 2 3899 Maple Avenue [email protected] Does your firm manage funds of funds? Yes Suite 150 Michael Schad Name of the newest fund of funds through which Dallas, TX 75219 Partner, Head of Investment Management you invest in secondaries: Bowside Capital Fund United States [email protected] IV, L.P. cedarspringscapital.com Target (US$millions): 75 469-802-3000 Francois Aguerre Open or closed? Open: Partner, Co-Head of Origination Preferred secondary investment range: PERSONNEL [email protected] • Minimum (US$millions): 1 Imran Hussain • Maximum (US$millions): 10 David Plater [email protected] Partner, Co-Head of Origination DESCRIPTION OF SERVICES [email protected] SCOPE OF OPERATIONS Bowside Capital makes secondary purchases of Year group began doing secondary deals: 2014 Frank Morgan LP interests in funds that meet its target criteria. Number of employees working on secondary deals: 3 President, Coller Capital Inc These funds must have less than $150 mm in Preferred secondary investment range: [email protected] committed capital and make control acquisitions. • Minimum (US$millions): 10 We do not invest in debt, real estate, or venture Paige Brotherton • Maximum (US$millions): 50 funds. Partner DESCRIPTION OF SERVICES [email protected] Do you use leverage in your secondary deals? No David Jolly Partner CBRE CAPITAL ADVISORS [email protected] MAIN OFFICE Paul Lanna Partner 200 Park Ave- East Mezz CIRCLEUP [email protected] New York, NY 10166 MAIN OFFICE United States Rune Munk 818 Mission St. 2126562558 Partner San Francisco, CA 94103 [email protected] SCOPE OF OPERATIONS USA Peter Kim Year group began doing secondary deals: 2010 Partner Number of employees working on secondary deals: 6 [email protected] Does your firm manage funds of funds? No CM CAPITAL BRANCH OFFICE(S) DESCRIPTION OF SERVICES MAIN OFFICE Coller Capital Inc Advisory services 950 3rd Avenue Names of some of your institutional backers: 525 University Ave New York, NY 10022 CBRE Inc Suite 200 Palo Alto, CA 94402 212-644-8500 www.cmcapitaladvisors.com Coller Capital Inc 650-326-6480 Level 19 CEBILE CAPITAL LLP Two International Finance Centre PERSONNEL 8 Finance Street MAIN OFFICE Central Hong Kong Biren Bhandari Hong Kong 2 Berkeley Square Associate Director 852-2251-1594 London [email protected] W1J 6EB SCOPE OF OPERATIONS United Kingdom SCOPE OF OPERATIONS Number of employees working on secondary deals: 185 www.cebile.com Does your firm manage funds of funds? No Name of the newest dedicated secondary fund +44-203-667-5000 Preferred secondary investment range: you are investing from: Coller International • Minimum (US$millions): 1 Partners VII (CIP VII) • Maximum (US$millions): 20 Amount Secured (US$millions): 7150 Open or closed? Closed: Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 7 GUIDE TO SECONDARY BUYERS
If closed, when did it happen? 12/31/2015 CORRUM CAPITAL MANAGEMENT LLC EASTON CAPITAL MAIN OFFICE MAIN OFFICE 214 North Tryon Street 767 Third Avenue COMMITTED ADVISORS Suite 1950 7th Floor MAIN OFFICE Charlotte, NC 28202 New York City, New York 10017 USA United States 9 rue Daru www.corrumcapital.com www.eastoncapital.com Paris 704-330-7300 2127020950 75008 704-330-7400 France www.committedadvisors.com PERSONNEL +33 1 72 28 35 30 Jason Cipriani EKAGRATA INC. PERSONNEL Partner [email protected] MAIN OFFICE Daniel Benin Affiliated company: In Colour Capital Inc. John Fulton Managing Partner 83 Aldershot Crescent Managing Director [email protected] Toronto [email protected] Barthelemy de Beaupuy ON Managing Partner SCOPE OF OPERATIONS M2P1M2 Canada [email protected] Year group began doing secondary deals: 2007 www.ekagrata.com Does your firm manage funds of funds? Yes J.B. Stock 416-862-6141 Partner [email protected] PERSONNEL Guillaume Valdant CROW HOLDINGS CAPITAL - INVESTMENT Prashant Pathak Partner President [email protected] PARTNERS [email protected] MAIN OFFICE BRANCH OFFICE(S) Careu Kurtin 3819 Maple Avenue Principal Committed Advisors North America [email protected] 915 Broadway Dallas, Texas 75219 Suite 1108 United States SCOPE OF OPERATIONS New York, NY10010 http://crowholdingscapital-ip.com/ 2146618154 Year group began doing secondary deals: 2005 USA Number of employees working on secondary deals: 2 [email protected] Does your firm manage funds of funds? No Committed Advisors Asia Preferred secondary investment range: 52 Boat Quay DAVIS CAPITAL, LLC • Minimum (US$millions): 5 # 03-01 • Maximum (US$millions): 30 Singapore MAIN OFFICE DESCRIPTION OF SERVICES 49841 200 S. Wacker Drive Singapore Names of some of your institutional backers: All 31st Floor private family capital of the principals. [email protected] Chicago, IL 60606 Do you use leverage in your secondary deals? No SCOPE OF OPERATIONS USA 312-623-4100 Year group began doing secondary deals: 2009 Number of employees working on secondary deals: 15 Preferred secondary investment range: ENDURANCE INVESTMENTS • Minimum (US$millions): 1 • Maximum (US$millions): 150 DGZ CAPITAL MAIN OFFICE MAIN OFFICE Alonso de Cordova 5670 Las Condes, Santiago Affiliated company: Capital Z Investment Partners Region Metropolitana COMMONFUND 142 West 57th Street 7560875 3rd Floor Chile MAIN OFFICE NY, NY 10019 www.endinv.com USA +569 68402327 15 Old Danbury Road 212-965-2379 Wilton, CT 06897 USA www.commonfund.org 203-563-5000 DRUM CAPITAL MANAGEMENT EURO PRIVATE EQUITY MAIN OFFICE SCOPE OF OPERATIONS MAIN OFFICE Year group began doing secondary deals: 1993 Four Stamford Plaza 5 chemin du Pavillon Number of employees working on secondary deals: 50 107 Elm Street, 10th Floor Le Grand Saconnex Does your firm manage funds of funds? Yes Stamford, CT 06902 Geneva Preferred secondary investment range: www.drumcapital.com 1218 • Minimum (US$millions): no minimum 203.391.7540 Switzerland 8 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 GUIDE TO SECONDARY BUYERS
SCOPE OF OPERATIONS GOLDMAN, SACHS & CO. HAMILTON LANE Year group began doing secondary deals: 2010 MAIN OFFICE MAIN OFFICE Does your firm manage funds of funds? Yes Preferred secondary investment range: 200 West Street One Presidential Blvd • Minimum (US$millions): 3 New York, NY 10282 4th Floor • Maximum (US$millions): 50 www.gs.com Bala Cynwyd, PA 19004 212-902-1000 USA DESCRIPTION OF SERVICES www.hamiltonlane.com Do you use leverage in your secondary deals? No PERSONNEL 610 934 2222 Harold Hope 610 617 9853 Managing Director [email protected] FORT WASHINGTON CAPITAL PARTNERS Steve Lessar GROUP (“FW CAPITAL”) Managing Director HARBOURVEST PARTNERS, LLC MAIN OFFICE [email protected] MAIN OFFICE 303 Broadway SCOPE OF OPERATIONS One Financial Center Boston, MA 02111 Suite 1200 Year group began doing secondary deals: 1997 USA Cincinnati, Ohio 45202 Does your firm manage funds of funds? Yes www.harbourvest.com USA Preferred secondary investment range: 617-348-3707 www.fwcapital.com • Minimum (US$millions): 1 617-350-0305 513-361-7600 • Maximum (US$millions): 1000 513-361-7605 DESCRIPTION OF SERVICES PERSONNEL PERSONNEL As one of the largest and most established private Randall Miner Sales Enablement Manager Joseph A. Woods equity investors in the market, Goldman Sachs’ Managing Director, Head of Secondary Investments Alternative Investments & Manager Selection [email protected] [email protected] (AIMS) Group is an active investor on the secondary SCOPE OF OPERATIONS market. Through our Vintage Funds, we have been Paul D. Cohn acquiring traditional limited partnership interests Year group began doing secondary deals: 1986 Managing Director and direct secondary investments for 20 years. We Number of employees working on secondary deals: 28 [email protected] invest around the world and across all strategies Does your firm manage funds of funds? Yes Philip D. Johnson in the illiquid markets, pursuing transactions that Preferred secondary investment range: Senior Investment Manager range in size from $1 million to over $1 billion. • Minimum (US$millions): 75 [email protected] • Maximum (US$millions): 150 Christopher M. Mehlhorn DESCRIPTION OF SERVICES Senior Investment Analyst Do you use leverage in your secondary deals? Yes [email protected] GRIFFIN FINANCIAL GROUP MAIN OFFICE SCOPE OF OPERATIONS Year group began doing secondary deals: 2003 485 Madison Avenue HARKEN CAPITAL Number of employees working on secondary deals: 4 20th Floor Preferred secondary investment range: New York, NY 10022 MAIN OFFICE USA • Minimum (US$millions): 5 101 Federal Street • Maximum (US$millions): 30 www.griffinfingroup.com 646-254-6397 19th Floor DESCRIPTION OF SERVICES Boston PERSONNEL MA Names of some of your institutional backers: 02110 Paul Delaney Western and Southern Life Insurance Company; USA Senior Managing Director City of Cincinnati Board of Trustees of Retirement; www.harkencapital.com [email protected] Kentucky Farm Bureau Mutual Insurance Co.; 617-342-7333 Brown-Forman Corporation; Bethesda, Inc. Mitch Fenimore Do you use leverage in your secondary deals? No Senior Vice President [email protected] HQ CAPITAL PRIVATE EQUITY LLC SCOPE OF OPERATIONS MAIN OFFICE GALILEO GLOBAL SECURITIES Year group began doing secondary deals: 2008 1290 Avenue of the Americas MAIN OFFICE Number of employees working on secondary deals: 6 10th floor Does your firm manage funds of funds? No New York, NY 10104 10 Rockefeller Plaza DESCRIPTION OF SERVICES USA Suite 1001 www.hqcapital.com New York, NY 10020 We work with limited partners, corporate investors +1-212-863-2300 United States and general partners seeking private equity +1-212-593-2974 http://galileoglobaladvisors.com/ portfolio solutions through confidential, directly 212 332 6042 negotiated transactions. Our focus is on both PERSONNEL limited partnership interests, as well as direct Tim Brody stakes in portfolio companies for firms who might Managing Director be seeking liquidity, a rebalancing of their portfolio, [email protected] or to achieve other strategic objectives. Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 9 GUIDE TO SECONDARY BUYERS
Chris Lawrence http://www.idinvest.com/en JASPER RIDGE PARTNERS Managing Director +33 (0) 1 58 18 56 56 [email protected] +33 (0) 1 58 18 56 89 MAIN OFFICE Christian Munafo PERSONNEL 2885 Sand Hill Road Managing Director Suite 100 [email protected] Christophe Simon Menlo Park, CA 94025 Partner USA Lucian Wu [email protected] www.jasperridge.com Managing Director (650) 494-4800 [email protected] BRANCH OFFICE(S) BRANCH OFFICE(S) Idinvest Partners 117 avenue des Champs Elysées HQ Capital (Deutschland) GmbH Paris JENERATION CAPITAL Am Pilgerrain 17 75008 Bad Homburg v.d. Höhe France MAIN OFFICE 61352 Germany SCOPE OF OPERATIONS 36/F Two IFC 8 Finance Street HQ Capital (UK) Limited Year group began doing secondary deals: 2000 Hong Kong 19 Eastbourne Terrace Number of employees working on secondary deals: 9 Hong Kong Paddington Preferred secondary investment range: www.jenerationcapital.com London • Minimum (US$millions): 0 852-3898-0300 W2 6LG • Maximum (US$millions): 100 PERSONNEL United Kingdom DESCRIPTION OF SERVICES Vincent Ho HQ Capital Asia Limited Do you use leverage in your secondary deals? Yes One Exchange Square Partner 8 Connaught Place, Suite 1704, 17/F [email protected] Hong Kong SCOPE OF OPERATIONS China IFG COMPANIES Year group began doing secondary deals: 2015 HQ Capital Shanghai Suite 1578, 15/F Tower 2 Plaza 66 MAIN OFFICE No. 1266 West Nanjing Road 825 Third Avenue Jing’An District, Shanghai 35th floor 200040 New York, NY 10022 JIRA CAPITAL & CONSULT GMBH China USA MAIN OFFICE www.ifgcompanies.com HQ Capital Tokyo Schusterweg 26 212/379-6213 East Tower, 4th Floor, Otemachi First Square Grasbrunn / Munich 1-5-1 Otemachi, Chiyoda-ku PERSONNEL Bavaria Tokyo 85630 100-0004 Corrine Glass Germany Japan Managing Director www.jira-cc.com +49 89 4398 7830 SCOPE OF OPERATIONS +49 89 4398 7831 Year group began doing secondary deals: 1992 Number of employees working on secondary deals: 27 INDUSTRY VENTURES PERSONNEL Yes Does your firm manage funds of funds? MAIN OFFICE Alexander Jira Preferred secondary investment range: Owner / Managing Partner • Minimum (US$millions): 10 30 Hotaling Place [email protected] • Maximum (US$millions): 20 3rd Floor San Francisco, CA 94111 SCOPE OF OPERATIONS United States Year group began doing secondary deals: 2008 www.industryventures.com Number of employees working on secondary deals: 1 HSBC 415-273-4201 Does your firm manage funds of funds? No MAIN OFFICE Preferred secondary investment range: • Minimum (US$millions): 5 78 St. James Street • Maximum (US$millions): 500 London INEO CAPITAL SW1A 1JB DESCRIPTION OF SERVICES MAIN OFFICE UK Working as intermediary in secondary transactions www.hsbc.com 2127 Brickell Avenue - either on buy or sell side. Focus on clients in 44 207 860 5279 Suite 1802 Western Europe. Miami, FL 33129 USA 203 979 4805 IDINVEST PARTNERS PERSONNEL MAIN OFFICE Mark Sirinyan 117 avenue des Champs Elysées Managing Partner Paris [email protected] 75008 France 10 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 GUIDE TO SECONDARY BUYERS
KNIGHTSBRIDGE ADVISERS Duncan Chapman Lexington Partners Asia Limited Partner 15/F York House, The Landmark MAIN OFFICE [email protected] 15 Queen’s Road Central Central 125 Cambridgepark Drive Anthony Garton Hong Kong Suite 400B Partner, Investor Relations Cambridge, MA 2140 [email protected] Lexington Partners Chile SpA USA 3477 Isidora Goyenechea Avenue Thomas Giannetti http://knightsbridgeusa.com/ 17th Floor, Suite 170 B Partner & CFO 617-354-0042 Las Condes, Santiago [email protected] 617-876-0204 Chile Charles Grant Partner SCOPE OF OPERATIONS KRAIN REAL ESTATE [email protected] Year group began doing secondary deals: 1990 Number of employees working on secondary deals: 40 Timothy Huang MAIN OFFICE Name of the newest dedicated secondary fund Partner you are investing from: Lexington Capital Partners 1003 N Damen Ave [email protected] Chicago, IL 60622 VIII, L.P., Lexington Middle Market Investors III, L.P. USA Rebecca John Amount Secured (US$millions): 11,170 www.krainrealestate.com Partner, Investor Relations Open or closed? Closed: 773-235-0111 [email protected] Preferred secondary investment range: • Minimum (US$millions): 1 773-572-0236 Jennifer Kheng • Maximum (US$millions): 2000 Partner LANDMARK PARTNERS [email protected] DESCRIPTION OF SERVICES Tom Newby Lexington’s secondary acquisition funds acquire MAIN OFFICE Partner diversified portfolios of private equity and 10 Mill Pond Lane [email protected] alternative investments through secondary market transactions. Lexington Partners screens Simsbury, CT 06070 Marshall Parke all transactions in the secondary market from USA Partner complex, multi-billion-dollar portfolio acquisitions www.landmarkpartners.com [email protected] 860-651-9760 to single interest purchases, direct and co- 860-651-8890 Pål Ristvedt investment secondaries, and focuses on assets Partner offering the most attractive risk-adjusted returns BRANCH OFFICE(S) [email protected] throughout the economic cycle. Lexington Partners has built a diversified global portfolio of private 681 Fifth Avenue John Rudge equity and alternative investments with meaningful 14th Floor Partner participation in each of the major sectors. New York, NY 10022 [email protected] USA Lexington Partners has acquired secondary Jose Sosa del Valle interests managed by over 650 sponsors. 265 Franklin Street Partner Names of some of your institutional backers: Over 18th Floor [email protected] 700 leading corporate and public pension funds, Boston, MA 02110 sovereign wealth funds, insurance companies, Lee Tesconi USA financial institutions, endowments, foundations Partner and family offices from more than 30 countries. 52 Jermyn Street [email protected] London SW1Y 6LX Wil Warren United Kingdom Partner [email protected] LIGHTPATH CAPITAL Victor Wu MAIN OFFICE Partner LEXINGTON PARTNERS [email protected] 1453 Third Street Promenade Santa Monica, CA 90405 MAIN OFFICE BRANCH OFFICE(S) U.S.A. 660 Madison Avenue Lexington Partners www.lightpathcapital.com 23rd Floor 111 Huntington Avenue 310.800.3269 New York, NY 10065 Suite 2920 United States Boston, MA 02199 www.lexingtonpartners.com United States 212-754-0411 Lexington Partners MANTRA INVESTMENT PARTNERS PERSONNEL 3000 Sand Hill Road MAIN OFFICE Building 1, Suite 220 37 rue des Acacias Brent Nicklas Menlo Park, CA 94025 Paris Managing Partner United States [email protected] 75017 Lexington Partners U.K. LLP France Mark Andrew 50 Berkeley Street www.mantrainvest.com Partner London +33 142 866 535 [email protected] W1J 8HA Kirk Beaton United Kingdom Partner [email protected] Lexington Partners 12 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 GUIDE TO SECONDARY BUYERS
PERSONNEL SCOPE OF OPERATIONS PERSONNEL Fabrice Moyne Preferred secondary investment range: Stephen Harris Partner • Minimum (US$millions): 5 Managing Principal [email protected] • Maximum (US$millions): 50 [email protected] SCOPE OF OPERATIONS Michael Cuneo Managing Principal Year group began doing secondary deals: 2008 [email protected] Number of employees working on secondary deals: 8 MESIROW FINANCIAL PRIVATE EQUITY Preferred secondary investment range: SCOPE OF OPERATIONS • Minimum (US$millions): 1 MAIN OFFICE Year group began doing secondary deals: 2002 • Maximum (US$millions): 20 353 North Clark Street Number of employees working on secondary deals: 2 Chicago, IL 60654 Does your firm manage funds of funds? Yes DESCRIPTION OF SERVICES USA Preferred secondary investment range: Do you use leverage in your secondary deals? No www.mesirowfinancial.com/privateequity • Minimum (US$millions): 0.05 312-595-6099 • Maximum (US$millions): 2 312-595-6211 DESCRIPTION OF SERVICES PERSONNEL MERCER INVESTMENT CONSULTING, LLC While we purchase from a broad spectrum of Marc Sacks MAIN OFFICE sellers we are particularly facile in helping general Chief Executive Officer partners bring their funds to a close. Affiliated company: Mercer Private Markets [email protected] Do you use leverage in your secondary deals? No 3560 Lenox Road Bob DeBolt Suite 2400 Chief Investment Officer Atlanta, GA 30326 [email protected] USA MILLENNIUM TECHNOLOGY VALUE 404-442-3259 Ryan Fedronich Senior Vice President PARTNERS PERSONNEL [email protected] MAIN OFFICE Michael Forestner Co-CIO SCOPE OF OPERATIONS 32 Avenue of the Americas [email protected] Year group began doing secondary deals: 2009 17th Floor Number of employees working on secondary deals: 7 New York, NY 10013 Harry Leggat Preferred secondary investment range: US Partner • Minimum (US$millions): 1 www.mtvlp.com [email protected] • Maximum (US$millions): 150 646-521-7800 646-521-7878 SCOPE OF OPERATIONS DESCRIPTION OF SERVICES Year group began doing secondary deals: 2012 Mesirow Financial Private Equity develops Number of employees working on secondary deals: 6 partnership fund portfolios of leading private Does your firm manage funds of funds? Yes equity managers in the U.S. and Europe. These MORGAN STANLEY Preferred secondary investment range: portfolios are well diversified to include buyout, • Minimum (US$millions): 1 growth equity, venture capital and mezzanine debt MAIN OFFICE • Maximum (US$millions): 25 managers, in addition to opportunistically targeting 522 Fifth Avenue DESCRIPTION OF SERVICES secondary purchases. New York, NY 10036 USA Mercer Private Markets provides discretionary and www.ms.com non-discretionary advisory services to institutional 212-296-6908 investors. Mercer acquires secondary interests in MICROVENTURES private market funds on behalf of discretionary SCOPE OF OPERATIONS pools of capital. MAIN OFFICE Year group began doing secondary deals: 2010 Do you use leverage in your secondary deals? No 2905 San Gabriel St Number of employees working on secondary deals: 6 Suite 212 Does your firm manage funds of funds? Yes Austin, TX 78705 USA MERCURY PARTNERS www.microventures.com MAIN OFFICE 415-426-7832 MUSTANG CAPITAL PARTNERS LLC 22 Industriestrasse MAIN OFFICE Zug 4643 S. Ulster Street 6302 MIDCOAST CAPITAL, LLC STE. 700 Switzerland Denver, CO 80237 www.mercuryp.com MAIN OFFICE USA +41 22 346 89 90 Affiliated company: Diversified Private Equity www.mustangcapital.com PERSONNEL Investors 303-298-1490 1430 Pheasant Run Circle Rainer Busch Yardley, PA 19067 SCOPE OF OPERATIONS Managing Partner USA Year group began doing secondary deals: 2003 [email protected] www.midcoastcapital.com Does your firm manage funds of funds? Yes 610-322-8800 Preferred secondary investment range: • Minimum (US$millions): 1 • Maximum (US$millions): 200 Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 13 GUIDE TO SECONDARY BUYERS
DESCRIPTION OF SERVICES OMAHA BEACH CAPITAL PARTNERS GROUP Do you use leverage in your secondary deals? No MAIN OFFICE MAIN OFFICE 20801 Biscayne Blvd Zugerstrasse 57 Aventura, Florida 33180 Baar NEWBURY PARTNERS United States Zug www.omahabeachcapital.com 6341 MAIN OFFICE 786-923-0256 Switzerland www.partnersgroup.com 100 First Stamford Place SCOPE OF OPERATIONS Stamford, CT 06902 +41 41 784 60 00 www.newbury-partners.com Year group began doing secondary deals: 10 + 41 41 784 60 01 203-428-3600 Number of employees working on secondary deals: 2 Does your firm manage funds of funds? Yes BRANCH OFFICE(S) DESCRIPTION OF SERVICES Preferred secondary investment range: Partners Group Newbury Partners is a secondary fund of funds • Minimum (US$millions): 1 The Grace Building manager based in Stamford, Connecticut. Newbury • Maximum (US$millions): 10 1114 Avenue of the Americas, 37th Floor New York, New York 10036 Partners also actively commits capital to private DESCRIPTION OF SERVICES equity co-investments. Newbury currently manages USA Do you use leverage in your secondary deals? No more than USD 2.8 billion of capital commitments Partners Group across three investment funds. 71 Robinson Road, Level 13-01 68895 OXFORD PARTNERS INC Singapore NORGESINVESTOR OPPORTUNITIES MAIN OFFICE MAIN OFFICE 2900 Charlevoix Drive SE PATHWAY CAPITAL MANAGEMENT, LP P.O. Box 1863 Vika Suite 360 Oslo Grand Rapids, MI 49546 MAIN OFFICE USA Norsk 2211 Michelson Drive www.oxfordpartners.com 124 Ninth Floor 616-575-6575 Norway Irvine, CA 92612 www.norgesinvestor.com USA 011-4722019335 www.pathwaycapital.com 949-622-1000 OXIS CAPITAL INC. 949-622-1010 NORTH SKY CAPITAL MAIN OFFICE PERSONNEL 150 East 69th Street MAIN OFFICE Pete Veravanich New York, NY 10021 Director 33 South Sixth Street United States [email protected] Suite 4646 212-375-6147 Minneapolis, Minnesota 55402 917-591-2680 BRANCH OFFICE(S) United States SCOPE OF OPERATIONS Pathway Capital Management, LP www.northskycapital.com The Gardens Office Park II 612-435-7158 Year group began doing secondary deals: 2014 1300 Division Road, Suite 305 612-435-7159 Number of employees working on secondary deals: 2 West Warwick, RI 2893 Does your firm manage funds of funds? No USA DESCRIPTION OF SERVICES Pathway Capital Management (UK) Limited We sell secondary interests in liquidating 15 Bedford Street NORTHERN TRUST portfolios. Often when the portfolios are controlled London MAIN OFFICE by a Receiver. WC2E 9HE United Kingdom 50 South LaSalle Street Chicago, IL 60603 Pathway Capital Management (UK) Limited https://www.northerntrust.com/asset- Level 8, Two Exchange Square management/united-states/services/alternative- PANTHEON 8 Connaught Place investments/private-equity MAIN OFFICE Central 312-557-0805 Hong Kong Norfolk House 31 St. James’s Square SCOPE OF OPERATIONS NORTHLEAF CAPITAL PARTNERS London Year group began doing secondary deals: 1999 SW1Y 4JR Number of employees working on secondary deals: 7 MAIN OFFICE United Kingdom Does your firm manage funds of funds? Yes www.pantheon.com 79 Wellington Street West Preferred secondary investment range: +44 20 7484 6200 Toronto • Minimum (US$millions): 3 +44 20 7484 6201 Ontario • Maximum (US$millions): 150 M5K1N9 DESCRIPTION OF SERVICES Canada http://www.northleafcapital.com/ Do you use leverage in your secondary deals? No +1 866 964 4141 +1 416 304 0195 14 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 GUIDE TO SECONDARY BUYERS
PATRIARCH PARTNERS PINEBRIDGE INVESTMENTS LLC PRIVATE ADVISORS MAIN OFFICE MAIN OFFICE MAIN OFFICE 1 Broadway 399 Park Avenue 901 East Byrd Street 5th Floor 4th Floor Suite 1400 New York, New York 10004 New York, NY 10022 Richmond, VA 23219 United States USA USA http://patriarchpartners.com/ www.pinebridge.com www.privateadvisors.com 212-825-0550 646-857 8000 804-289-6000 646-328-2872 804-289-6001
PERMAL CAPITAL MANAGEMENT PORTFOLIO ADVISORS PROVAL INVEST MAIN OFFICE Affiliated company: Legg Mason MAIN OFFICE MAIN OFFICE The Prudential Tower 9 Old Kings Highway South 1c King Street 800 Boylston Street, Suite 1325 Darien, CT 06820 London Boston, MA 02199 United States London United States http://www.portfolioadvisorsllc.com/ sw6 2hj www.permalcapital.com 203-662-3456 UK 617-587-5300 203-662-0013 provalinvest.com 617-587-5301 +44 203 290 4802 PERSONNEL PERSONNEL Hugh Perloff Red Barrett Managing Director President and CEO [email protected] RECIPROCAL CAPITAL [email protected] Patrick Gerbracht MAIN OFFICE Mike D’Agostino Senior Vice President 80 Broad Street Managing Director [email protected] 5th Floor [email protected] Ben Hur New York, NY 10004 Rob Di Geronimo Senior Vice President USA Managing Director [email protected] www.reciprocalcapital.com [email protected] 917-288-3834 BRANCH OFFICE(S) Adriaan Zur Muhlen Portfolio Advisors, LLC SCOPE OF OPERATIONS Managing Director Brandschenkestrasse 4 [email protected] Year group began doing secondary deals: 2015 Zurich Number of employees working on secondary deals: 1 Aaron Bright 8001 Preferred secondary investment range: Principal Switzerland • Minimum (US$millions): 10 [email protected] Portfolio Advisors (Hong Kong) Limited DESCRIPTION OF SERVICES SCOPE OF OPERATIONS 33/F, Alexandra House 18 Chater Road, Central Reciprocal Capital is a specialist investment company Year group began doing secondary deals: 2001 Hong Kong focused on private equity secondaries and co- Number of employees working on secondary deals: 18 China investments. Reciprocal works closely with leading Does your firm manage funds of funds? Yes institutional investors, general partners and advisors. Preferred secondary investment range: SCOPE OF OPERATIONS Do you use leverage in your secondary deals? Yes • Minimum (US$millions): 1 Year group began doing secondary deals: 2002 • Maximum (US$millions): 100 Number of employees working on secondary deals: 12 DESCRIPTION OF SERVICES Secondary capital invested in 2015 (US$millions): 500 Secondary capital invested in 2016 (US$millions): 450 ROC PARTNERS Permal Capital Management is a private equity Amount of secondary capital you expect to invest investment specialist with over 20 years of MAIN OFFICE in 2017 (US$millions): 500 dedicated experience and $2.1 billion in committed Does your firm manage funds of funds? Yes Level 25 capital as of December 31, 2015. Since inception Name of the newest fund of funds through which 60 Wyndham Street in 1994, we have focused on opportunities at the you invest in secondaries: Portfolio Advisors Central smaller end of the market. The Firm’s investment Private Equity Fund IX Hong Kong platform of secondary market funds and primary Open or closed? Closed: www.rocp.com fund-of-funds has grown to include commingled If closed, when did it happen? 03/31/2016 852 5804 9001 vehicles, separately managed accounts and Name of the newest dedicated secondary direct co-investments. We leverage our extensive fund you are investing from: Portfolio Advisors knowledge of the marketplace, experience in Secondary Fund III various economic cycles, access to quality private Target (US$millions): 1000 equity managers and expertise in evaluating RUBICON VENTURE CAPITAL Open or closed? Open: managers and investment opportunities to provide Preferred secondary investment range: MAIN OFFICE our global client-base with thoughtful and dynamic • Minimum (US$millions): 5 25 Taylor St solutions to achieve their investment goals. • Maximum (US$millions): 400 San Francisco, California 94102 Do you use leverage in your secondary deals? No United States DESCRIPTION OF SERVICES www.rubicon.vc Do you use leverage in your secondary deals? No 6504756877 Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 15 GUIDE TO SECONDARY BUYERS
PERSONNEL SPECTRA INVESTMENTS LP interests in lower middle-market private credit and equity funds, in some cases within existing primary Andrew Romans MAIN OFFICE fund and/or co-investment relationships of the firm. General Partner Star Mountain also makes secondary purchases of [email protected] Rua Padre Garcia Velho n73 cj81 Sao Paulo existing lower middle-market loan portfolios to provide Sao Paulo liquidity solutions to fund managers, institutions and 05421-030 individuals. SAINTS CAPITAL Brasil www.spectrainvest.com MAIN OFFICE +55-11-3588-1177 2020 Union Street PERSONNEL STEPSTONE GROUP LP San Francisco, CA 94123 www.saintscapital.com Ricardo Kanitz MAIN OFFICE 4157732080 Partner 885 Third Avenue [email protected] 17th Floor Rafael Bassani New York, NY 10022 Partner USA SAVANO CAPITAL PARTNERS [email protected] www.stepstoneglobal.com 212.351.6100 MAIN OFFICE Renato Abissamra 212.351.6101 Partner 901 S Bond St [email protected] STE 400 PERSONNEL Baltimore, MD 21231 SCOPE OF OPERATIONS Thomas Bradley USA Partner, Co-head of Secondaries Year group began doing secondary deals: 2012 www.brownsavano.com [email protected] Number of employees working on secondary deals: 3 410-537-5400 Does your firm manage funds of funds? Yes Mark Maruszewski Preferred secondary investment range: Partner, Co-head of Secondaries • Minimum (US$millions): 1 [email protected] • Maximum (US$millions): 50 SEQUENTIAL ADVISORS LP SCOPE OF OPERATIONS DESCRIPTION OF SERVICES MAIN OFFICE Year group began doing secondary deals: 2009 Spectra is an investor in Latin American Private Number of employees working on secondary deals: 20 1 River Road Equity. We do primaries, secondaries and co-invest. Does your firm manage funds of funds? No Cos Cob, CT 06807 Names of some of your institutional backers: Preferred secondary investment range: USA BNP Paribas, Banco Bradesco, Banco Fator, Banco • Minimum (US$millions): 5 http://sequentialadvisors.com/ Daycoval, Sabesprev, • Maximum (US$millions): 100 203-717-1600 Do you use leverage in your secondary deals? No DESCRIPTION OF SERVICES StepStone targets transactions in the secondary market that the Firm deems to be less competitive and/ SL CAPITAL PARTNERS STAFFORD CAPITAL PARTNERS or where it is believed that StepStone has a distinct MAIN OFFICE advantage over other buyers. These include proprietary MAIN OFFICE and negotiated transactions; single interest or single 1 George Street Affiliated company: Stafford Private Equity Inc manager transactions; smaller transactions that trade Edinburgh 700 Larkspur Landing Circle outside of the brokered market; transactions where EH2 2LL Suite 267 GPs seek to further a relationship with StepStone and UK Larkspur, CA 94939 where we are therefore the preferred replacement www.slcapital.com USA limited partner; spin-out transactions where StepStone 00-44-131-245-0055 staffordcp.com represents a differentiated and attractive limited 00-44-131-245-6105 415-481-0899 partner; and transactions where StepStone has an information advantage over other potential buyers. Names of some of your institutional backers: Representative client types include public pensions, SPEAKGLOBAL, LTD. STAR MOUNTAIN CAPITAL superannuation funds, international corporates, endowments, foundations, family offices and high MAIN OFFICE MAIN OFFICE net worth/private banking platforms. Affiliated company: SpeakGlobal, Inc. 135 E. 57th Street Do you use leverage in your secondary deals? No 27-6-202 Tanigami Nishimachi 25th Floor Kita-ku New York, NY 10022 Kobe United States Hyogo http://www.starmountaincapital.com/ STRATEGIC PARTNERS FUND SOLUTIONS 651-1246 212-810-9044 Japan MAIN OFFICE http://www.speakglobal.co.jp SCOPE OF OPERATIONS Affiliated company: The Blackstone Group 078-583-5070 Amount of secondary capital you expect to invest in 345 Park Avenue 078-583-5070 2017 (US$millions): $150 – 200 NY, NY 10154 USA DESCRIPTION OF SERVICES http://www.blackstone.com/businesses/aam/ Star Mountain provides discreet and customizable strategic-partners liquidity solutions by making secondary purchases of individual limited partnership interests or portfolios of 16 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 GUIDE TO SECONDARY BUYERS
STRATIM CAPITAL TRAVELLER CAPITAL ADVISORS SCOPE OF OPERATIONS MAIN OFFICE MAIN OFFICE Year group began doing secondary deals: 1994 333 Bush Street 3879 Maple Avenue DESCRIPTION OF SERVICES Suite 2250 Ste 300 Founded in 1992 as one of the first private equity San Francisco, California 94104 Dallas, Texas 75219 fund placement agents, we have completed over United States www.travellercapital.com 150 fundraisings on five continents and advised www.stratimcapital.com 214-702-5123 on the transfer of more than 1,600 secondary 4156745800 positions in private equity funds. Triago has also PERSONNEL undertaken 40 strategic advisory mandates for GPs T CAPITAL PARTNERS, LLC Drew Crichton and LPs looking to launch, boost, or restructure Managing Member PE fund operations. The hallmarks of our service MAIN OFFICE [email protected] are alignment with client interests, independence, Concord, MA USA creativity and confidentiality www.tcapitalpartners.com SCOPE OF OPERATIONS 857-209-8516 Year group began doing secondary deals: 2013 Preferred secondary investment range: PERSONNEL • Minimum (US$millions): 0.1 TYTO CAPITAL PARTNERS • Maximum (US$millions): 2.5 Thayer Swartwood MAIN OFFICE Managing Member [email protected] DESCRIPTION OF SERVICES 65 Locust Avenue Do you use leverage in your secondary deals? No New Canaan, CT 06840 United States www.tytocapital.com TMT CAPITAL PARTNERS, LLC 2032041295 TRIAGO MAIN OFFICE MAIN OFFICE 680 North Lake Shore Drive Suite 1619 499 Park Avenue UNIGESTION SA New York, New York 10022 Chicago, IL 60611 MAIN OFFICE United States of America USA www.tmtcapital.com www.triago.com 8C Avenue de Champel 773-220-5910 +1 (212) 593-4994 Geneva +1 (212) 593-0180 PO Box 387, 1211 PERSONNEL Switzerland PERSONNEL Thomas M. Turmell www.unigestion.com Managing Director Antoine Drean +41 22 704 41 11 [email protected] Chairman [email protected] SCOPE OF OPERATIONS Victor Quiroga Amount of secondary capital you expect to invest Founding Partner UNIVERSITY OF FLORIDA INVESTMENT in 2017 (US$millions): 20 [email protected] CORPORATION Mathieu Drean MAIN OFFICE Managing Partner 4510 NW 6th Place TOP CAPITAL ADVISORS [email protected] Second Floor Nicolas de Nazelle Gainesville, FL 32607 MAIN OFFICE Managing Partner USA 63 Main Street [email protected] http://www.ufico.ufl.edu/ Suite 202 352-392-5917 Anna Chambers Southampton, NY 11968 352-334-8077 Partner USA [email protected] www.topcapitaladvisors.com +1-631-287 6035 Fabian Mourgue D’Algue Partner & Corporate Secretary UNIVERSITY OF ROCHESTER [email protected] MAIN OFFICE Katrin Brökelmann TOP TIER CAPITAL PARTNERS Advisor 110 Office Park [email protected] Pittsford, NY 14534 MAIN OFFICE USA 600 Montgomery Street Tina Sodhi www.rochester.edu/endowment Suite 480 Partner 585 275 3311 San Francisco, CA 94111 [email protected] USA Virginie Bourel www.ttcp.com Partner 415-835-7500 [email protected] 415-835-7501 David Lanchner External Head of Communications [email protected] Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 17 GUIDE TO SECONDARY BUYERS
VCFA GROUP VINTAGE INVESTMENT PARTNERS WILLOWRIDGE PARTNERS MAIN OFFICE MAIN OFFICE MAIN OFFICE 509 Madison Ave 12 Abba Eban Ave 122 East 42nd Street Suite 1400 Herzliya 37th Floor NY, NY 10022 Israel New York, NY 10017 USA www.vintage-ip.com United States www.vcfa.com +972 9 954 8464 www.willowridge.com 212-838-5577 212-369-4700 212-838-7614 212-369-5661 PERSONNEL W CAPITAL PARTNERS PERSONNEL Dayton Carr Jerrold Newman Founder MAIN OFFICE Partner [email protected] 400 Park Avenue [email protected] New York, NY 10022 Edward Hortick Luisa Hunnewell USA Managing Director Partner www.wcapgroup.com [email protected] [email protected] 212-561-5240 David Tom James O’Mara Managing Director PERSONNEL Partner [email protected] David Wachter [email protected] Deena Seelendfreund Managing Director Lawrence Fang CFO [email protected] Principal [email protected] Steve Wertheimer [email protected] Steve Taubman Managing Director Michael Kenny Managing Director [email protected] Controller [email protected] Todd Miller [email protected] SCOPE OF OPERATIONS Managing Director Christopher Kim [email protected] Associate Year group began doing secondary deals: 1982 [email protected] Number of employees working on secondary deals: 5 Alison Killilea Does your firm manage funds of funds? No Managing Director Andrew Goon Preferred secondary investment range: [email protected] Associate • Minimum (US$millions): 5 Blake Heston [email protected] • Maximum (US$millions): 70 Managing Director William Wang [email protected] DESCRIPTION OF SERVICES Associate [email protected] Founded in 1982, VCFA Group pioneered the Katie Stitch concept of secondary purchases of limited Managing Director SCOPE OF OPERATIONS partnership interests, providing liquidity to [email protected] Year group began doing secondary deals: 1995 investors in private equity. Over the years, VCFA Bob Migliorino Number of employees working on secondary deals: 9 Group and then the secondary industry have both Managing Director Preferred secondary investment range: grown in size and significance. To date, VCFA Group [email protected] • Minimum (US$millions): 0.5 has raised nine funds totaling over $730 million • Maximum (US$millions): 25 dedicated to the purchase of interests in venture SCOPE OF OPERATIONS capital, leveraged buyout and mezzanine funds, Year group began doing secondary deals: 2001 DESCRIPTION OF SERVICES as well as direct interests in operating companies. Number of employees working on secondary deals: 20 Willowridge Partners, LLC is a leading independent VCFA also leads complex transactions and fund Preferred secondary investment range: investment manager dedicated to the purchase of restructurings. • Minimum (US$millions): 15 interests in venture capital, buyout, mezzanine and Do you use leverage in your secondary deals? No • Maximum (US$millions): 100 other private equity funds from existing investors DESCRIPTION OF SERVICES seeking liquidity. Since 1995, we have completed over 300 transactions and have acquired stakes W Capital Partners is a leading provider of in over 550 separate funds. Our ability to execute VENTURENET CAPITAL GROUP shareholder liquidity. W Capital has been a transactions quickly, professionally and privately pioneer in the direct secondary market since MAIN OFFICE has been recognized by both selling limited 2001. The firm has grown to manage $2 billion in partners and the general partners of funds we 30724 Benton Road Suite C 302#592 capital and completed over 90 direct secondary acquire. Willowridge manages approximately Winchester, CA 92596 transactions with many of the leading worldwide $900 million of committed capital focused solely on USA private equity firms, venture firms, financial private equity secondaries. www.vntrnet.com institutions and individual investors. As a Do you use leverage in your secondary deals? No 951-236-8473 provider of secondary exits to shareholders, W Capital gives companies more time, flexibility and capital to execute their growth plans. W Capital provides direct investors an exit for highly illiquid investments in order to generate distributions to limited partners, reallocate resources into new strategic areas and eliminate follow-on capital requirements for portfolio companies. Do you use leverage in your secondary deals? No SECONDARY INTERMEDIARIES Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 19 GUIDE TO SECONDARY INTERMEDIARIES
AXON PARTNERS HEDGEBAY SECURITIES Robert Schoder Partner MAIN OFFICE MAIN OFFICE Michael Stark 111 Buckingham Palace Road 62 Post Road West Partner 3rd Floor Westport, CT 06880 London SW1W 0SR USA Patrick Daly http://www.axonpartners.biz/secondary.htm www.hedgebay.com Partner 44 20 7340 8729 203.227.1987 Peter Mayer UK Partner BRANCH OFFICE(S) BRANCH OFFICE(S) Hedgebay Trading Corp. Alexander Moomjy AXON Partners AG Suite 205A, Saffrey Square Partner Bahnhofplatz Bay Street Lawrence Thuet P.O. Box Nassau Partner CH-6302 Zug Bahamas Switzerland 242.356.4147 BRANCH OFFICE(S) Chicago 200 West Madison Street Suite 3800 CAMPBELL LUTYENS & CO. INC. MOZAIC CAPITAL ADVISORS Chicago, IL 60606 USA MAIN OFFICE MAIN OFFICE San Francisco 630 Fifth Avenue 500 Boylston Street 101 California Street 25th Floor Suite 1150 Suite 3200 New York, NY 10111 Boston, MA 02116 San Francisco, CA 94111 United States of America USA USA http://www.campbell-lutyens.com/ www.mozaiccapital.com 212 223 8448 617-329-6100 London 212 214 0558 One Curzon Street PERSONNEL London BRANCH OFFICE(S) Christine Patrinos W1J5HD Campbell Lutyens & Co. Ltd Partner UK 3 Burlington Gardens [email protected] Hong Kong London W1S 3EP One International Finance Centre United Kingdom Solomon Owayda Partner No. 1 Harbour View Street Campbell Lutyens Asia Pacific Ltd [email protected] Central Suite 819, Jardine House Hong Kong 1 Connaught Place Sydney Central One O’Connell Street Hong Kong PARK HILL GROUP Sydney NSW 2000 MAIN OFFICE Australia 280 Park Avenue CEBILE CAPITAL 15th Floor MAIN OFFICE New York, New York 10017 United States SETTER CAPITAL INC 2 Berkeley Square http://parkhillgroup.com/ London 212-364-6099 MAIN OFFICE W1J 6EB 77 Bloor Street West United Kingdom PERSONNEL Suite 1901 www.cebile.com Daniel Prendergast Toronto +44-203-667-5000 CEO Ontario PERSONNEL M5S 1M2 Brian D. Levine Canada Partner Sunaina Sinha www.settercapital.com Managing Partner Joseph M. Herman (416) 964-9555 [email protected] Partner (416) 964-0699 Sean J. Keene Partner GREENHILL & CO. George J. Eberle Partner MAIN OFFICE Michael A. Caiati 300 Park Avenue Partner New York, NY 10022 United States Joseph Nagae http://www.greenhill.com/ Partner 212 389 1500 Frank Schmitz 212 389 1700 Partner 20 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 SECONDARY GUIDE INDEX
17Capital 3 Jeneration Capital 9 50 South Capital Advisors LLC 3 Jira Capital & Consult GMBH 9 747 Capital 3 Knightsbridge Advisers 10 Abbott Capital Management LLC 3 Krain Real Estate 10 Adams Street Partners LLC 3 Landmark Partners 10 Akina Partners 4 Lexington Partners 10 Allianz Capital Partners 4 Lightpath Capital 10 Alpinvest 4 Mantra Investment Partners 10 Alternative Investment Management LLC 4 Mercer Investment Consulting LLC 12 Angelo Gordon & Co 4 Mercury Partners 12 Arcis Group 4 Mesirow Financial Private Equity 12 Ardian 5 Microventures 12 Atlas Peak Capital 5 Midcoast Capital LLC 12 Bex Capital 5 Millennium Technology Value Partners 12 Billionaire Family Office 5 Morgan Stanley 12 Bowside Capital 6 Mustang Capital Partners LLC 12 CBRE Capital Advisors 6 Newbury Partners 13 Cebile Capital LLP 6 Norgesinvestor Opportunities 13 Cedar Springs Capital 6 North Sky Capital 13 CircleUp 6 Northern Trust 13 CM Capital 6 Northleaf Capital Partners 13 Coller Capital 6 Omaha Beach Capital 13 Committed Advisors 7 Oxford Partners Inc 13 Commonfund 7 Oxis Capital Inc 13 Corrum Capital Management LLC 7 Pantheon 13 Crow Holdings Capital - Investment Partners 7 Partners Group 13 Davis Capital LLC 7 Pathway Capital Management LP 13 DGZ Capital 7 Patriarch Partners 14 Drum Capital Management 7 Permal Capital Management 14 Easton Capital 7 Pinebridge Investments LLC 14 Ekagrata Inc 7 Portfolio Advisors 14 Endurance Investments 7 Private Advisors 14 Euro Private Equity 7 Proval Invest 14 Fort Washington Capital Partners Group (FW Capital) 8 Reciprocal Capital 14 Galileo Global Securities 8 Roc Partners 14 Goldman Sachs & Co 8 Rubicon Venture Capital 14 Griffin Financial Group 8 Saints Capital 15 Hamilton Lane 8 Savano Capital Partners 15 HarbourVest Partners LLC 8 Sequential Advisors LP 15 Harken Capital 8 SL Capital Partners 15 HQ Capital Private Equity LLC 8 Speakglobal LTD 15 HSBC 9 Spectra Investments 15 Idinvest Partners 9 Stafford Capital Partners 15 IFG Companies 9 Star Mountain Capital 15 Industry Ventures 9 Stepstone Group LP 15 Ineo Capital 9 Strategic Partners Fund Solutions 15 Jasper Ridge Partners 9 Stratim Capital 16 Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 21 SECONDARY GUIDE INDEX
T Capital Partners LLC 16 University of Florida Investment Corporation 16 TMT Capital Partners LLC 16 Univeristy of Rochester 16 Top Capital Advisors 16 VCFA Group 17 Top Tier Capital Partners 16 Venturenet Capital Group 17 Traveller Capital Advisors 16 Vintage Investment Partners 17 Triago 16 W Capital Partners 17 Tyto Capital Partners 16 Willowridge Partners 17 Unigestion SA 16
SECONDARY INTERMEDIARIES INDEX
Axon Partners 19 Hedgebay Securities 19 Campbell Lutyens & Co Inc 19 Mozaic Capital Advisors 19 Cebile Capital 19 Park Hill Group 19 Greenhill & Co 19 Setter Capital Inc 19 22 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 INDICES: SECONDARY BUYERS
SECONDARY BUYERS, BY TYPE OF INVESTMENT DESIRED Buyout funds Buyout funds capital Venture funds Mezzanine funds situation Special Hedge funds funds Real estate funds Infrastructure funds Domestic funds International Funds of funds secondaries Stapled in interests Partial seller (in which funds a stake) maintains in private Interest (secondary companies directs) participation Syndicate Recapitalizations Fund
50 South Capital Advisors LLC X X X X X X X X X X X X X 747 Capital X X X X X Abbott Capital Management, LLC X X X X X X X X X X X Adams Street Partners, LLC X X X X X X X X X X X X X Akina Partners X X X X X X Allianz Capital Partners X X ARCIS Group X X X X ARDIAN X X BEX Capital X Bowside Capital X X X CBRE Capital Advisors X X X X X Cebile Capital LLP X X X X X X X X X X X X X X X Cedar Springs Capital X X X X X X X X X X X X X X X CM Capital X X X X X X X X X X Committed Advisors X X X X X X X X X X X X X X X Commonfund X X X X X X X X X X X X X X Corrum Capital Management LLC X X X X X X X Ekagrata Inc. X X X X X Euro Private Equity X X X X Fort Washington Capital Partners Group X X X X X X X X X ("FW Capital") HarbourVest Partners, LLC X X X X X X X X X X HQ Capital Private Equity LLC X X X X X X X X X X X X X X Idinvest Partners X X X X X X X X IFG Companies X X X X X X X X X Jeneration Capital X X X X X X X X X X X X JIRA CAPITAL & CONSULT GMBH X X X X X X X X Lexington Partners X X X X X X X X X X X X X X X Mantra Investment Partners X X X X X X X X X X X X X X Mercer Investment Consulting, LLC X X X X X X X X X X X Mercury Partners X X X X X X X X X X X X Mesirow Financial Private Equity X X X X X X X X MidCoast Capital, LLC X X X X X X X X X X X X Morgan Stanley X X X Mustang Capital Partners LLC X X X X X X X X Omaha Beach Capital X X X X X X X Oxis Capital Inc. X Pathway Capital Management, LP X X X Permal Capital Management X X X X X X X X Portfolio Advisors X X X X Reciprocal Capital X X X X X X X X X X X X X Spectra Investments X X X X X X X X X X X StepStone Group LP X X X X X X X X X X X X X Traveller Capital Advisors X X X X Triago X X X X X X X X X X X X X X VCFA Group X X X X X X X W Capital Partners X X X X Willowridge Partners X X X X X X X X X X X X X X Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 23 INDICES: SECONDARY BUYERS
SECONDARY BUYERS, GEOGRAPHIC PREFERENCE OF INVESTMENTS United States Canada Latin/South America Europe Asia-Pacific Australia/ New Zealand Africa East Middle
17Capital X X X 50 South Capital Advisors LLC X X X X 747 Capital X Abbott Capital Management, LLC X X X X X Adams Street Partners, LLC X X X X X X X X Akina Partners X Allianz Capital Partners X X X X X X ARCIS Group X ARDIAN X X X X BEX Capital X X X Bowside Capital X X CBRE Capital Advisors X X Cebile Capital LLP X X X X X X X X Cedar Springs Capital X X X X X X X X CM Capital X X X X Committed Advisors X X X X X X X X Commonfund X X X X X X X X Corrum Capital Management LLC X X X X X Ekagrata Inc. X X X X Euro Private Equity X Fort Washington Capital Partners Group ("FW Capital") X X HarbourVest Partners, LLC X X X X X X HQ Capital Private Equity LLC X X X X X X X X Idinvest Partners X IFG Companies X Jeneration Capital X X X X X JIRA CAPITAL & CONSULT GMBH X X X X X Lexington Partners X X X X X X Mantra Investment Partners X X X X X X X X Mercer Investment Consulting, LLC X X X X Mercury Partners X X X X Mesirow Financial Private Equity X X X X X X MidCoast Capital, LLC X X X X X Morgan Stanley X Mustang Capital Partners LLC X X X X X X X Omaha Beach Capital X X X X Oxis Capital Inc. X Pathway Capital Management, LP X X X X X X Permal Capital Management X X X Portfolio Advisors X X X X Reciprocal Capital X X X X X X X X Spectra Investments X StepStone Group LP X X X X X X Traveller Capital Advisors X Triago X X X X X X X X VCFA Group X W Capital Partners X X X Willowridge Partners X X X X X X 24 | BUYOUTS | VCJ Guide To Secondary Buyers & Intermediaries 2017 INDICES: SECONDARY BUYERS
SECONDARY BUYERS, BY PREFERRED AGE OF FUND INVESTMENTS Firm Name 1-2 years 3-4 years 5-6 years 7 years or older 50 South Capital Advisors LLC X X X X 747 Capital X X X X Abbott Capital Management, LLC X X X Adams Street Partners, LLC X X X X Akina Partners X X Allianz Capital Partners X X X X ARCIS Group X X ARDIAN X X X BEX Capital X Bowside Capital X X X X Cebile Capital LLP X X X X Cedar Springs Capital X CM Capital X X X X Committed Advisors X X X X Commonfund X X X X Ekagrata Inc. X X Euro Private Equity X X X Fort Washington Capital Partners Group ("FW Capital") X X X X HarbourVest Partners, LLC X HQ Capital Private Equity LLC X X X X Idinvest Partners X X JIRA CAPITAL & CONSULT GMBH X X X X Lexington Partners X X X X Mantra Investment Partners X X X Mercer Investment Consulting, LLC X X Mercury Partners X X Mesirow Financial Private Equity X X X X MidCoast Capital, LLC X X Mustang Capital Partners LLC X X X X Omaha Beach Capital X X Pathway Capital Management, LP X X X X Permal Capital Management X X X Portfolio Advisors X X Reciprocal Capital X X X X Spectra Investments X X X StepStone Group LP X X Traveller Capital Advisors X X VCFA Group X X Willowridge Partners X X X