North America

The two managers have teamed up to target $1bn for a fund that will focus on growth equity and late-stage venture capital investments, Secondaries Investor has learned.

The platform will focus on opportunities in the US and Europe, with future growth contingent upon its track record.

The firm is joining a growing number of PE entrants expanding into the secondaries market, Secondaries Investor understands.

A&M Capital’s secondaries strategy has a focus on mid-market and smaller deals, which is believes offers a more attractive risk-return profile than the larger end, managing partner Jeremy Weisberg said at NEXUS 2026.

The $3bn-plus portfolio sale dubbed Project Ember includes a portion of equal strips to buyout funds, Secondaries Investor understands.

The secondaries market remains ‘undercapitalised’ despite the influx of private wealth capital, Ardian’s Ava Mallin said at NEXUS 2026.

Sebastien Siou, a former Secondaries Investor Next Gen Leader, joined the LP portfolio-focused firm in 2024.

LPs are taking an increasingly proactive approach to the secondaries market, while CVs will represent 10-20% of PE exits, managing partner Yann Robard said at NEXUS 2026.

As the secondaries market braces itself for the next round of macroeconomic uncertainty, there is a playbook based on previous choppy markets.

The secondaries market is taking stock of macro events, which could lead to some movements around pricing, PJT Partners’ Adrian Millan said at NEXUS 2026.