GP-Led Solutions

provide a centralized model for General Partners to facilitate secondary transactions for their clients

This Solution Helps

  • Institutional Asset Managers
  • Private Equity
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Why GPs Partner With Us

Diversify Capital Sources

Our Auction Fund structure allows General Partners (GPs) to replace Defined Benefits plans as sources of capital for more diversified, permanent capital sources.

Leverage NPM's Regulatory Infrastructure

Up to 10% of the fund can transfer annually, subject to certain limitations, without triggering Publicly Traded Partnership (PTP) requirements if the parameters of a Qualified Matching Service are followed in accordance with a Private Letter Ruling issued to NPM by the IRS.

Facilitate Regular Liquidity for LPs

We empower GPs to use our seamless technology to provide regular, structured liquidity programs for Limited Partners (LPs).

Nasdaq Private Market (NPM) and PJT Partners are partnering to provide best-in-class execution for general partner-sponsored secondary transactions, combining PJT Park Hill's industry-leading secondary advisory capabilities with Nasdaq Private Market's innovative technology. Watch our recent interview to learn more.

 

How It Works

Our end-to-end, customizable platform is built to handle secondary transactions in funds of any type, which allows for full visibility into the tender offer process at every step of the program.

  • Data Collection

    GP provides investors’ holding data, disclosure financials, and eligible participants. If GP does not provide full holdings, eligible participants required to send notice, consent agreement, and collect holdings data from each investor to NPM.

  • Seller IOI

    Sellers sign an NDA and platform terms agreement before gaining access to sensitive information.

  • Buyer Participation

    The NPM platform collects detailed order data to set cutback/undersubscription rules and pricing. Buyers electronically sign a binding letter of intent/offering agreement up to the commitments designated before the bidding process begins.

  • Seller Participation

    Sellers are notified of Offering & required Agreements and either accept or reject offer price at a selected commitment level. Sellers electronically sign binding letter of intent/offering agreement before the bidding process begins.

  • Matching, Agreements & Payment

    Orders exported and final match imported into Platform so Sellers and Buyers can sign/countersign Transfer and PSA agreements. Closing package sent to GP with individual, final results displayed to buyers and sellers on platform, and NPM wires payments.

Provide a better experience for
HNWIs
by providing the options of liquidity rights, less cash drag, and no gating
Op Ed: Venmo Is the Ultimate Cryptocurrency Experience
Enabling PE Fund Liquidity
Read the announcement of our iCapital partnership.
READ THE PRESS RELEASE
Provide a better experience for
HNWIs
by providing the options of liquidity rights, less cash drag, and no gating

Learn more about our GP-led solutions

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