The market for secondary investments has dramatically shifted in recent years with the evolution of GP led transactions. Join us for a panel discussion as we dive into the dramatic growth and evolution of GP led secondaries, one of the fastest growing segments of the secondary market. We will discuss buyer and seller motivations, alignment of interests and why investors are catching the GP-led secondary wave.
We are excited to host the following experts in alternative investments:
Jonathan Costello – Devon Park Advisors
Managing Partner
Jonathan Costello founded Devon Park Advisors in 2021. Jonathan has 29 years of private markets and advisory experience, including over 20 years focused on the secondary market. His experience spans broadly across the following transaction types: (i) LP interest acquisitions/divestitures, (ii) GP led secondaries, (iii) LP or GP structured equity solutions, (iv) GP stakes, (v) blind pool primary commitments and (vi) direct, control buyouts. In total, Jonathan has advised or served as lead investor in 60+ GP led secondary transactions representing $20+ billion in transaction value. Since forming Devon Park, Jonathan has advised sponsor clients including Ashcroft Capital, Atlantic Street Capital, Avenue Capital, and Oaktree.
Prior to forming Devon Park, Jonathan was an Operating Partner at Stone Point Capital.
Prior to Stone Point, Jonathan was a Partner and Global Head of Secondary Advisory at PJT Park Hill. Jonathan led a team of 35 dedicated advisory professionals based in New York and London. Jonathan and his team advised on 36 GP led transactions in private equity, private credit, real estate, and infrastructure, including several of the largest single asset continuation vehicle transactions completed to date. Representative sponsor clients included Avenue Capital, Blackstone, Oaktree, Pretium Partners, Providence Equity, Revelstoke, Riverstone, and TPG.
Prior to PJT Park Hill, Jonathan was a Managing Director, Portfolio Manager and Head of the Morgan Stanley Alternative Investment Partners Private Equity (AIP) Secondary Team. Jonathan was a member of the five person, AIP global investment committee, which approved all investments and dispositions (primary, secondary and co-investment commitments) for commingled private equity fund of funds, dedicated secondary funds and other separately managed accounts. Jonathan was also a member of the AIP executive committee, which oversaw all aspects of the AIP business. Jonathan managed a team of 12 dedicated private equity secondary investment professionals based in Philadelphia, New York, and London.
Prior to joining AIP, Jonathan worked at Susquehanna International Group, where he led the firm’s investments in the private equity secondary market. Previously, he founded and led the secondary advisory business at SSG Capital Advisors, where he represented insurance companies, corporate, and family office clients in private equity secondary transactions. Before that, Jonathan worked with Safeguard Scientifics, where he was responsible for managing the firm’s private equity fund portfolio and sourcing, conducting due diligence, and structuring direct private equity investments in software and information services companies.
Jonathan received a B.S. in finance from Boston College.
Tom Kerr – Hamilton Lane
Co-Head of Investments, Global Head of Secondary Investments
Tom is the Co-Head of Investments and Global Head of Secondary Investments. In his role as Co-Head of Investments, he has broad leadership and management responsibilities across the global investment platform. He also leads the Hamilton Lane Secondary Investment Platform, a role that Tom has held since 2006. He is a member of the firm’s Investment Committee, Allocation Committee and the Evergreen Portfolio Committee. In addition, Tom is a member of the firm’s Technology Committee, overseeing strategic direction and implementation of tech initiatives.
Tom began his career at Hamilton Lane in 1999 and has worked across numerous areas of the firm throughout his tenure. Prior to joining Hamilton Lane, Tom spent two years at BISYS Plan Services, where he was responsible for the investment activities of institutional defined benefit plans.
Tom received an M.B.A. from Saint Joseph's University and a B.S. in Finance from Rider University.
Brian Mooney – Portfolio Advisors/ FS Investments
Managing Director and Co-Head of GP-led Secondaries
Brian is a Managing Director and Co-Head of GP-led Secondaries. Previously he was a global head of GP-led secondary advisory for Greenhill & Co’s. Capital Advisory Group. Prior to Greenhill, Brian co-founded Cogent Partners in 2002, where he was a Managing Director and General Partner until that firm’s sale to Greenhill in 2015. Prior to founding Cogent, Brian was responsible for sourcing and executing secondary, primary, direct and co-investments at a firm that is now part of the Neuberger Berman alternative investments platform. Brian has executed over $40 billion of secondary transactions across North American, Asia, Europe and the Middle East. He holds a B.B.A. from University of Texas and an M.B.A. from Columbia University and London Business School.
Our moderator for the panel is Christina Bohm – PJT Partners
Principal
Christina is a principal on the Private Capital Solutions team at PJT Partners, leading the advisory practice on fund financing and providing structured solutions for LPs and GPs. Prior to joining PJT, she spent 9 years on the fund financing team at Nomura most recently as the Head of Sales.
Christina is the chair and founder of Women in Secondaries, a networking organization dedicated to promoting, retaining, and elevating women within the private equity secondaries market.
Christina also serves on the boards of Fiver Children’s Foundation and Breaking the Chain through Education.
Christina graduated summa cum laude from Rutgers Business School and is a CAIA Charterholder
Lite bites and refreshments will be served.
This event is free of charge for investment professionals interested in the secondaries market.
This event is jointly produced by CFAP and CAIA PA for the benefit of our members.
Click here to register.