Netley Capital Announces First Tertiary Transaction and Team Expansion

LONDON--(BUSINESS WIRE)--Netley Capital (“Netley”), a private investment firm, today announced the successful completion of its first tertiary transaction. Netley also announces that Alvaro Rosado is joining as Co-Founder and Partner.

Netley Capital’s Tertiaries franchise manages $315 million in committed, deployable capital. It is the private equity industry’s leading pool of capital dedicated exclusively to buying secondaries stakes in secondaries funds.

With its first tertiary transaction, Netley has successfully acquired approximately $140 million of LP interests in funds managed by two leading secondaries GPs.

“We are delighted to have completed our first tertiaries deal within a month of launching our franchise,” said Caspar Berendsen, Managing Partner at Netley Capital. “We provided liquidity to a large global institutional investor and we were able to deliver the transaction quickly and efficiently for the seller, which are hallmarks of how Netley does business.”

Alvaro Rosado will join Netley as Co-Founder and Partner. Alvaro was previously a Managing Director at Rothschild & Co, where he established and co-led the secondaries advisory business globally.

“I am delighted to join Netley to help launch the franchise, at a time when innovation in the secondary market is unlocking new opportunities for growth,” said Rosado.

With an active pipeline for the fourth quarter, Netley continues to build momentum in its tertiaries franchise.

Demand for tertiary solutions is growing rapidly, driven by an explosion in activity in the secondary market. Netley focuses on acquiring interests in secondary funds with underlying investments in mid- and large-cap global private equity buyout funds. Netley estimates that tertiary transactions could represent up to 10% of secondaries volume in the future, just as secondaries volumes are around 10% of primary activity today.

“We had built a strong deal pipeline prior to launching and are continuing to see new opportunities almost daily,” continued Berendsen. “It’s an early validation of the strategy and our recognition that secondaries investors also need liquidity. We’re thrilled to welcome Alvaro to the Netley family and are optimistic that together we will complete more transactions before the end of the year.”

About Netley Capital

Netley Capital is a private investment firm focused on acquiring interests in secondary private equity funds, known as tertiary investing. Netley is the only manager of scale that is fully focused on tertiary transactions, with the expertise to provide liquidity solutions to counterparties on accelerated timetables.