We support the rapidly changing secondaries landscape with purpose-built technology for private fund sponsors and investors seeking liquidity.
We support the rapidly changing secondaries landscape with purpose-built technology for private fund sponsors and investors seeking liquidity.
Executing deals is a labor-intensive process without a scalable technology solution. Our platform helps deal teams overcome workflow inefficiencies with built-in transparency and security controls, freeing them up to allocate resources toward their core functions.
Nasdaq Fund Secondaries facilitates auctions for positions in private funds as a Qualified Matching Service (“QMS”) in accordance with Treasury Reg 1.7704-1(g) and an IRS private letter ruling. Transfers of interests through a QMS can enable a fund to increase the potential total amount of transferable interest per annum from 2% up to 10%, subject to certain limitations.
Our institutional network is comprised of established secondary buyers.
Our all-in-one secondaries platform is designed to minimize friction, reduce complexity, and create more seamless routes to liquidity.
Nasdaq delivers innovation that enhances the underlying infrastructure of the markets and opens greater access to opportunity.
We work with GPs directly or together with an advisor to reduce operational friction in a GP-led process, and simplify the LP’s experience from deal launch to closing.
We work with GPs directly or together with an advisor to reduce operational friction in a GP-led process, and simplify the LP’s experience from deal launch to closing.
Our platform allows LPs to efficiently access opportunities to sell or purchase private fund interests; facilitating competitive price discovery, reducing the time and resource burden associated with deal execution and providing seamless payment and settlement supported by technology.
Our platform allows LPs to efficiently access opportunities to sell or purchase private fund interests; facilitating competitive price discovery, reducing the time and resource burden associated with deal execution and providing seamless payment and settlement supported by technology.
Our exit feature for eligible registered and unlisted funds lets managers offer a new avenue for liquidity to investors.
Our exit feature for eligible registered and unlisted funds lets managers offer a new avenue for liquidity to investors.
Expanded access to liquidity for wealth management platforms, feeder fund investors and accredited investor clients.
Expanded access to liquidity for wealth management platforms, feeder fund investors and accredited investor clients.
The Nasdaq Fund Secondaries platform can operate as a Qualified Matching Service (“QMS”), as interpreted in a Private Letter Ruling by the IRS which sets forth the platform’s methodology to be within the IRS rules relating to Publicly Traded Partnerships (PTPs).
The Nasdaq Fund Secondaries platform can operate as a Qualified Matching Service (“QMS”), as interpreted in a Private Letter Ruling by the IRS which sets forth the platform’s methodology to be within the IRS rules relating to Publicly Traded Partnerships (PTPs).
Certain closed-end investment companies may rely on limited exemptive relief from Rule 102 of Regulation M under the Securities Exchange Act of 1934 granted by the SEC.
This exemption allows certain Nasdaq affiliates to conduct periodic liquidity auctions for certain products registered under the Investment Company Act of 1940.
Certain closed-end investment companies may rely on limited exemptive relief from Rule 102 of Regulation M under the Securities Exchange Act of 1934 granted by the SEC.
This exemption allows certain Nasdaq affiliates to conduct periodic liquidity auctions for certain products registered under the Investment Company Act of 1940.
Nasdaq Fund Secondaries, LLC (“NFS”) operates the Nasdaq Fund Secondaries platform, an end-to-end, customizable technology built to facilitate secondary transactions in private funds and other pooled investment vehicles. NFSTX, LLC, a wholly owned subsidiary of NFS (together with NFS, “Nasdaq Fund Secondaries”), is a registered broker-dealer that acts as an intermediary to facilitate settlement of transactions matched through the NFS platform. Nasdaq Fund Secondaries may facilitate auctions for positions in private funds as a Qualified Matching Service (“QMS”) under Treasury Reg 1.7704-1(g).
Depending on the service and transaction, Nasdaq can operate in a few distinct roles. Nasdaq can solely act as an execution service for advisor-led deals, act as an intermediary in facilitating an LP-led sale, or provide regular, structured access to liquidity for fund sponsors.
The platform is invitation-only. Contact us to book a demo.
The fees are dependent on the type of engagement with Nasdaq Fund Secondaries and the role of NFS in a transaction.
Nasdaq may work directly with a GP during a sale spearheading the effort to receive GP approval, or Nasdaq may work indirectly if our client prefers to maintain contact with the GP.
To join Nasdaq's buyer network, please contact us.