LP-Led Secondaries
Purchase and sale of LP fund stakes in the secondary market.
Image · LP-Led SecondariesLP-led secondaries are the sale and purchase of existing limited-partner fund interests — offering buyers immediate exposure at a potential discount and sellers early liquidity. Matchpoint sources and structures LP-led secondary transactions.
As part of our Alternatives practice, Matchpoint Partners has originated and led $2+ billion of transactions across four continents, and every alternatives mandate is led by a partner, from first call to close.
Our role on lp-led secondaries mandates
- Buy or sell LP fund interests
- Immediate, seasoned exposure
- Potential discount to NAV
- Liquidity for existing LPs
Select transactions
Representative alternatives mandates led by Matchpoint partners.
PBSA & commercial RE fund — LP solutions via restructuring.
Multi-strategy fund — placement mandate under way.
Healthcare PE fund (AIF) placement.
Technology VC fund (AIF) placement.
Research relevant to this area
Original analysis and decision frameworks from the Matchpoint team.
LP-Led Secondaries — frequently asked questions
The sale of an existing LP's fund stake to a new investor in the secondary market.
Faster deployment, a shorter J-curve and often a discount to NAV.
As a percentage of the fund’s reported net asset value, adjusted for capital calls and distributions since the reference date. The level reflects portfolio quality, the manager’s reputation, how much remains unfunded and expected timing of exits — strong funds can trade near or above NAV, weaker ones at meaningful discounts.
Usually for portfolio reasons rather than distress — rebalancing allocations, freeing capital for new commitments, exiting non-core managers or resolving over-exposure after market moves. Because motivations are often structural, disciplined buyers can acquire good assets from rational sellers at sensible prices.
Agreeing price and terms with the buyer, obtaining the general partner’s consent — which fund documents almost always require — and executing a transfer agreement that moves both the funded position and any unfunded commitment. The GP relationship matters: transfers move fastest when the buyer is acceptable to the manager.
It covers US pre-IPO secondaries, curated deal access for private equity funds and family offices, PE/VC fund placement, and AI data-centre investments — for qualified investors.
Pre-IPO secondaries, GP- and LP-led secondaries, co-investments, PE/VC fund placement and SPVs, plus thematic exposure to AI data centres, digital infrastructure and the energy transition.
Access is for qualified investors — primarily PE funds, family offices and institutions — subject to eligibility, suitability and counterparty terms.
Engagements ordinarily combine a retainer with a success fee. Terms are agreed in writing before work begins and calibrated to the mandate’s size, scope and complexity.
Most mandates reach a first term sheet within 30 days, depending on diligence readiness and structure; closing follows once terms are agreed.
A short, confidential scoping call and NDA; we structure the requirement and prepare materials, then run a competitive process across our 5,000+ investor and lender relationships, and negotiate to close — with a partner leading at every step.
Matchpoint Partners is based in the UAE and runs cross-border mandates across the UAE, KSA, India and the UK, with active deal activity in wider Europe, Singapore and the United States.
Matchpoint undertakes corporate finance, financing, M&A and fund-placement mandates from USD 5m upwards, subject to mandate fit, diligence, applicable regulation, capacity and a written engagement. The partner team has originated and led $2+ billion of transactions.
Use the enquiry form, email contact@matchpoint-partners.com, or call/WhatsApp +971 52 345 1119. Every mandate is led by a partner from the very first conversation.
Yes. Confidential information is handled under the engagement terms and any applicable non-disclosure agreement.
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Investment roles, structures and decision criteria
Explore the participants and transaction options relevant to this practice. Each entry sets out a discussion scope, decision checks, a paid engagement starting point and the specialist responsibilities to confirm.
Real Assets and Secondaries
LP InterestsCME-166 · Real Assets and Secondaries · Asset Class
- Ecosystem role
- Asset Class
- Related asset class
- Alternatives
- Instrument context
- Equity, debt or fund interests
Mandate context: real assets, project assets and secondary investments. The structure and rights are established by the specific transaction documents.
Decision focus: Asset economics and the terms of ownership.
- Underlying asset, fund or portfolio evidence
- Cash flows, valuation and capital commitments
- Transfers, liquidity and specialist diligence
Scope to discuss: Private-markets portfolio strategy, manager selection, diligence and transaction access.
Paid engagement entry point: allocation and market-opportunity study; followed by manager or asset screening and diligence.
Illustrative GCC scenario: An illustrative Qatar real-asset or secondary investment can review valuation support, future capital commitments, transfer permissions and exit assumptions. This is a hypothetical decision example.
What should be agreed before a mandate involving LP Interests?
Define the investment or transaction objective, the authorised decision-maker, the evidence available, the requested deliverables and the next approval. Use the decision checks above to identify gaps; agree the workplan, delivery responsibilities and fee terms in writing.
Delivery and specialist boundary: Confirm decision authority, evidence access, conflicts, scope and applicable jurisdiction-specific permissions before execution. Legal, tax, fund-marketing, securities and Shariah questions require the relevant appointed specialist. Capital availability, investment returns and execution dates remain subject to assessment.
Discuss a paid scopeM&A and Restructuring
LP-Interest Secondary ProcessesCME-287 · M&A and Restructuring · Transaction Route
- Ecosystem role
- Transaction Route
- Related asset class
- Private equity
- Instrument context
- Share sale, asset sale or refinancing
Mandate context: private sale, acquisition, restructuring and secondary transactions. The structure and rights are established by the specific transaction documents.
Decision focus: Transaction route, value and execution dependencies.
- Ownership, objectives and transaction perimeter
- Valuation, stakeholder incentives and alternative structures
- Approvals, diligence and completion or restructuring conditions
Scope to discuss: Transaction route assessment, process design and execution support.
Paid engagement entry point: transaction-route feasibility study; followed by process design and execution.
Illustrative GCC scenario: An illustrative cross-border GCC carve-out can compare the sale perimeter, standalone readiness, valuation and separation dependencies before selecting a transaction route. This is a hypothetical decision example.
What should be agreed before a mandate involving LP-Interest Secondary Processes?
Define the investment or transaction objective, the authorised decision-maker, the evidence available, the requested deliverables and the next approval. Use the decision checks above to identify gaps; agree the workplan, delivery responsibilities and fee terms in writing.
Delivery and specialist boundary: Confirm decision authority, evidence access, conflicts, scope and applicable jurisdiction-specific permissions before execution. Legal, tax, fund-marketing, securities and Shariah questions require the relevant appointed specialist. Capital availability, investment returns and execution dates remain subject to assessment.
Discuss a paid scopeFurther reading on diligence, market frameworks and applicable requirements. These resources do not verify an individual mandate or Matchpoint permission.
