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A Leader in Middle Market Secondaries

$0B
AUM
1+
Investment Professionals
1+
Investments
1+
Transactions
$1B+
Committed
Flexible capital solutions across LP and GP secondaries in the lower middle market and middle market, navigating the dynamic opportunity set with proactive sourcing, in-depth due diligence, and hands-on investment management
GP Secondaries
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GP Secondaries

Apogem Capital has been investing in and leading private equity secondary transactions for more than a decade, leveraging our deep middle-market relationships to source and underwrite attractive opportunities. We seek to lead GP secondaries where the strength of the Apogem platform creates an advantage, generally resulting in limited competition, enhanced access to due diligence, and deep operating insights into targets.

Apogem is a leader in middle-market GP secondaries, with more than a decade of experience executing and evolving complex transactions, including continuation vehicles, fund restructurings, secondary directs, strip sales, and structured investments.

Apogem’s commingled secondaries programs are typically balanced between GP and LP secondaries opportunities. We currently manage approximately $3.0 billion across commingled funds and custom accounts and have committed to over 115 secondary transactions since 2012, of which, approximately 60 have been GP secondaries.

Our GP secondaries strategy typically targets:

  • Leading buyout and growth transactions in North America
  • Target company characterisitics:
    • Strong historical performance
    • Sponsored by a proven GP specialized in the respective industry
    • Resilient business model
    • High recurring revenue
    • Significant organic growth potential
    • Proven management team
    • Conservative capital structure
  • Strong alignment with the GP
  • $10 – $75+ million investment sizes
LP Secondaries
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LP Secondaries

Apogem Capital has been investing in and leading private equity secondary transactions for more than a decade, leveraging our deep middle market relationships to source and underwrite attractive opportunities. We seek secondary investments where the strength of the Apogem platform creates an advantage, generally resulting in limited competition, enhanced access to due diligence, and / or processes where we lead the transaction.

Apogem has experience across a range of LP secondaries transactions. Due to extensive and long-term relationships in the middle market, we are often able to target opportunities outside competitive processes and focus on funds that are traded less frequently and may have restrictive secondary buyer lists. We believe these opportunities are not widely available to the secondary market and present the potential for attractive pricing and meaningful value appreciation upside.

Apogem’s commingled secondaries programs are typically balanced between LP and GP secondaries opportunities. We currently manage approximately $3.0 billion across commingled funds and custom accounts and have committed to over 115 secondary transactions since 2012, of which, approximately 65 have been LP secondaries.

Our secondaries strategy typically targets:

  • Buyout and growth funds in North America
  • Potential for early distributions
  • Diversification across sponsors, industries, strategies, and vintages
  • Highly funded investments at the inflection point of value creation
  • Embedded value through negotiated and effective discounts
  • $5 – $75+ million investment size