Latest from New 2ND Capital

New 2ND Capital Raises Over $875 Million for Third GP-led Secondaries Program

New York, NY – November 7, 2024

By: AARAV VERMA

New York-based New 2ND Capital raised over $875 million for its third GP-led secondaries program, which included co-investment vehicles, surpassing its initial fundraising target.

Over 50% of the capital raised has already been deployed across six transactions, with a seventh expected in Q4. The firm saw returning investors from New 2ND Capital Fund I and II and new participants from Canada, Australia, and the Netherlands.

New 2ND Capital was supported by FocusPoint Private Capital Group, while Ropes & Gray acted as counsel.

Tjarko Hektor, founder of New 2ND Capital, remarked, “This is another milestone for our firm. We started New 2ND Capital in 2016 as one of the first GP-led secondaries specialists. The successful fundraise demonstrates that our strategy and focus on the U.S. middle market are resonating well with the market.”

Hektor recently provided insight on the rapidly evolving GP-led secondaries market in the latest ION Influencers series episode.

$875 Million for Third GP-led secondaries program

Dan Townsend, Partner, noted the increasing interest in continuation funds and restructurings in the U.S. middle market, “New 2ND Capital is well-positioned to help these firms with additional time and capital to grow their portfolio companies with our third program.”

New 2ND Capital is a PE firm that invests in middle market companies in the US through GP-led secondaries transactions. It had over $2.3 billion in regulatory AUM as of June.