Secondaries
- 26+
- Years'Secondary Market Experience
- $90+
- BillionEffectively Invested
- 800+
- Secondary TransactionsClosed
Source: Goldman Sachs Asset Management as of April 2025.
We source opportunities across transaction types, geographies, and sectors, leveraging our extensive network, and enabling us to participate in large transactions while also pursuing smaller opportunities.
We've established ourselves as a trusted partner for managers and investors that are seeking to participate in the secondaries market. The breadth and depth of our relationships with over 1,200 managers and over 5,000 investors facilitate this.
The secondary market is diversifying in terms of transaction structures and composition; different transaction types require different skillsets and tools to be evaluated. Our vast insights and sector-specific expertise position us to invest across transaction types and construct diversified portfolios.
As private markets expand in size and complexity, we strive to be an innovative liquidity partner. Our track record shows our creative, solutions-oriented approach to collaborating with private market investors and managers.
The scale of today’s secondary market requires robust resources. Our experienced investment teams, coupled with decades of technological development, enable us to efficiently underwrite transactions, risk-manage portfolios, and monitor our investments.
27 years of experience
We invest across LP portfolio sales and non-traditional solutions, including continuation vehicles and structured portfolio transactions, building diversified exposure across sectors, geographies, and vintage years. In traditional secondary transactions, we bring scale, execution certainty, and a comprehensive approach that allows us to underwrite complex portfolios and transact efficiently. In non-traditional transactions, we focus on acquiring high quality companies alongside our strong manager network, as well as structuring bespoke solutions to meet the objectives of both managers and investors.
16 years of experience
We invest across credit secondaries and structured portfolio finance, treating credit as both an asset we acquire and a structure we create. Through senior‑focused credit secondaries, we seek to acquire high‑quality credit portfolios in selectively sourced transactions. Through creatively structured portfolio finance transactions collateralized by portfolios that we know well, we provide fund investors and managers with a flexible capital alternative to more traditional NAV lending and fund‑finance options.
15 years of experience
We provide flexible liquidity opportunities to private real estate sponsors and investors across a broad range of transaction types and market environments. We build diversified portfolios across attractive property types and submarkets, emphasizing mature, income‑producing assets with disciplined entry pricing. As real estate market liquidity needs rise, we seek to structure and execute tailored secondary solutions designed to meet partner objectives while investing with conviction across cycles.
17 years of experience
We invest in infrastructure secondaries as an efficient access route in to underlying infrastructure assets which typically provide exposure to long-term, contracted cash flows, that are often inflation participating and downside mitigated through hard asset backing. These investments are generally less economically sensitive, while benefiting from secondaries dynamics such as J‑curve mitigation and potential discounts to NAV. Our strategy targets diversified exposure to predominantly core and core‑plus risk-profile infrastructure, while seeking value‑add returns with meaningful day‑one yield. We invest across a wide spectrum of secondary transaction types, emphasizing disciplined underwriting and structuring expertise, with a focus on subsectors supported by structural tailwinds.
18 years of experience
We partner with highly aligned private markets managers, acquiring top performing assets and providing capital to extend proven value creation plans through continuation vehicles. We target high quality, cycle resilient businesses with durable fundamentals and multiple exit paths. As an established participant in the continuation vehicle market, we frequently lead or co-lead transactions, shaping pricing, driving terms, and aligning incentives among sponsors and investors.
26 years
We recently acquired Industry Ventures, a pioneer of flexible capital solutions across the venture life cycle. They are focused on secondary liquidity solutions, seeding emerging venture capital funds, coinvesting directly in early-stage high growth businesses using pro-rata rights, and investing at the intersection of venture capital and tech buyout.
