Education Series | January 18, 2024 | Virtual Event
Insights into Private Equity Secondaries
Please join us for an exclusive conversation on Private Equity Secondaries, a large and growing segment within the private equity market.
Secondaries are transactions where new investors buy an existing interest or asset from existing limited partners (LPs). This broad-based solution may provide enhanced flexibility and liquidity to existing LPs, while providing buyers with potentially faster return of capital, opportunities for discounts on purchase, and enhanced transparency into the assets being purchased compared to traditional primary private equity commitments.
Given the illiquidity of underlying private equity fund interests, the secondary market remains the only liquidity option of scale for LPs seeking to sell their interests in private equity funds, and for the fast-growing segment of general partners (GPs) looking to execute on bespoke transactions to provide their LPs liquidity while maintaining exposure to certain assets or pools of assets they desire to hold.
We are excited to be hosting Ryan Levitt and Justin McDougall from ICG at our office in Birmingham on January 18th to lead a discussion on the evolution, current state, and future of the private equity secondaries market.
ICG is a global asset manager headquartered in London managing approximately $82 billion in assets. The firm invests across the capital structure with a 32-year track record in private debt, credit, and equity investments across the globe. Within private equity, ICG has been a market leader in the GP-led secondaries space since 2014 and continues to deploy capital into the sector. ICG has led the 11 largest commitments ever into Single Asset Continuation Vehicles, one of the most common GP-led structures. Within traditional LP-led secondaries, ICG is a new entrant into the space but has built a team with deep industry experience and expertise to launch their first LP secondaries vintage fund.
5:00 p.m. | Panel Discussion: Trends and Opportunities in Private Equity Secondary Markets by Ryan Levitt & Justin McDougall of ICG
6:00 p.m. | Q&A
Managing Director, ICG LP Secondaries
Ryan Levitt joined ICG in 2019 and is a Portfolio Manager of the Advisor. He has experience originating and executing complex secondary deals (including portfolio sales, direct positions, and fund restructurings) and direct PE investments. Ryan joined ICG from Drum Capital where he worked as a Managing Director, investing in lower middle-market companies with identifiable opportunities for improvement through operational, management or capital structure optimization. Prior to Drum Capital, Ryan was a Partner at Pomona Capital, a global, value-oriented private equity firm specializing in secondary investing and providing liquidity solutions for investors, where he worked alongside Co-Portfolio Manager, Oliver Gardey, for over 14 years. While at Pomona, Ryan was also the founder and Portfolio Manager of the 1940 Act Pomona Investment Fund.
Ryan holds a Bachelor of Science degree in Finance and Accounting from the Boston College.
Managing Director, ICG Strategic Equity
Justin joined ICG in March 2015 and is a Managing Director based in New York. Prior to joining ICG, Justin was a Senior Associate on the private equity secondary team at Morgan Stanley Alternative Investment Partners. He began his career at DuPont Capital Management. Justin graduated from University of Virginia with a BS in Commerce.
Aaron Hodari, CFP®, CIMA®
Managing Director & Chief Investment Officer, Schechter Investments
In his role as CIO, Aaron oversees investment strategy selection within our investment advisory business. This role also encompasses involvement within insurance-based solutions, such as Private Placement Life Insurance (PPLI) and Life Insurance Premium Financing, and Schechter’s Private Capital (SPC) group.
Aaron heads the firm’s branch of Private Capital, where Schechter makes direct investments into high-growth private companies. In this role, he oversees deal sourcing, due diligence, deal structuring, industry relationships, and market opportunity identification. Schechter has successfully invested in and exited multiple investments since inception and continues to see rapid growth within the private capital markets. Investments that Aaron and the Schechter team have made, either directly or through affiliates, span across multiple industries and include companies such as Peloton, DraftKings, Lyft, Reddit, Industrious, Punchh, BM Technologies, and others. Aaron currently sits on the board of publicly traded BM Technologies (ticker: BMTX).
Prior to joining Schechter, Aaron worked at BlackRock Financial Management, in New York, in the Institutional Account Management group where he helped manage relationships with institutional investors including pension funds, foundations & endowments, and family offices. While there, he specialized in customized fixed-income solutions, commodities, and hedge funds. He also spent time as COO at Compuware-backed startup Glocal, and as an acquisitions analyst at Friedman Real Estate evaluating distressed properties across the US.
Aaron graduated from the University of Michigan, where he majored in economics and played lacrosse. He currently on the Board of Directors of BM Technologies, Inc and he is a member of the CAIS Advisory Council. Aaron resides in Bloomfield Hills, MI with his wife and two daughters. Aaron is a fishing enthusiast, amateur chef, and proud “girl dad.”
Register for our Virtual Event
We look forward to seeing you virtually on January 18, 2024 from 5:00 p.m. - 6:30 p.m. EST!