What Auldbrass Partners does

Auldbrass Partners is a New York-based private equity secondaries firm founded in 2011 as a spin-out from Citigroup by Howard Sanders. The firm is 100% employee-owned and acquires secondary interests in private equity through both LP interest purchases and GP-led opportunities, targeting middle market buyout, global buyout, and growth equity strategies. Principals have completed over $3.8 billion in secondaries transactions across their careers, and the team has executed more than $5 billion across approximately 500 fund transactions, with capability to underwrite complex second- and third-level analyses including fund restructurings and SPVs.

The firm concentrates on equity positions in private companies with strong sustainable growth and a target 3-5 year liquidity horizon, partnering only with institutional-quality managers that provide reliable portfolio reporting. Auldbrass employs a proprietary pricing technology that supports rapid transaction turnarounds and seamless General Partner-Seller interaction, underpinning its execution edge. Deal flow is sourced through direct GP relationships and intermediary networks cultivated over decades, supplemented by a global sourcing initiative.

The business model is that of a traditional private equity fund manager: revenue is generated from management fees on committed or invested capital plus carried interest on successful realizations, served exclusively to institutional investor LPs. Distribution is relationship-based rather than broad-based, with no public pricing or product tiers. The team has expanded steadily since 2021, including a CFO/CCO, dedicated investor relations staff, and a January 2025 hire of a Senior Vice President to lead capital formation and fundraising.

Name

Auldbrass Partners

Legal name

Auldbrass Partners

Website

https://auldbrasspartners.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Auldbrass Partners is a 100% employee-owned New York private equity secondaries firm founded in 2011 as a Citigroup spin-out, acquiring LP interests and GP-led opportunities in middle market buyout, global buyout, and growth equity for institutional investors.

Ownership category

akta.pro rank

Product category

Private Equity Secondaries

NAICS

All Other Financial Investment Activities (52399), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

LP Secondaries — Growth Equity Funds (FSAHALAC)

akta.pro secondary industry

GP-led Secondaries — Fund Restructurings / Tender Offers / Recaps (FSAHALAK)

Keywords

• Private equity secondaries
• Secondary transactions
• LP interest acquisition
• GP-led opportunities
• Growth equity investing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Private Equity Investment Returns: As a private equity firm, Auldbrass generates returns through investment in secondary transactions, taking equity positions in private companies with sustainable growth and near-term liquidity potential (3-5 years). Revenue is derived from management fees and carried interest on successful investments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Auldbrass Partners is a private equity secondaries firm that acquires secondary interests through both LP interests and GP-led opportunities in middle market buyout, global buyout, and growth equity strategies. The firm takes concentrated equity positions in private companies with strong sustainable growth and near-term (3-5 years) liquidity potential, serving institutional investors. Revenue is generated through management fees and carried interest on successful secondary investments.

Product overview

Auldbrass Partners is a private equity firm offering a single, unified investment service focused on secondary transactions. The firm acquires secondary interests through both LP interests and GP-led opportunities, targeting middle market buyout, global buyout, and growth equity strategies. Their proprietary pricing technology enables quick transaction turnarounds and seamless General Partner-Seller interaction, supporting their core secondary investment services offering.

Differentiator

Problem solved

Functional benefit

Products and services

• Secondary Investment Services Growth-focused private equity services that acquire secondary interests through LP interests and GP-led opportunities in middle market buyout, global buyout, and growth equity transactions, offered to institutional investors.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Lexington Partners: One of the largest and longest-standing PE secondaries firms; directly competes with Auldbrass in LP-led and GP-led secondary transactions across buyout and growth equity strategies for institutional LPs.
• Neuberger Berman Secondary Opportunities Fund: Major institutional secondaries platform within Neuberger Berman, running a multi-billion-dollar secondaries strategy that competes head-to-head with Auldbrass for LP-led and GP-led secondary interests.
• StepStone Group: Large, multi-strategy private markets platform with a dedicated secondaries practice; directly competes with Auldbrass for institutional secondary mandates and offers overlapping GP-led capabilities.
• Hamilton Lane: Public, scaled private-markets investment manager running a dedicated Secondary Fund, with deep GP relationships and execution capabilities that overlap with Auldbrass's LP-led and GP-led focus.
• Pomona Capital: Boutique-to-mid-market PE secondaries manager historically affiliated with ING/Prisma, competing directly with Auldbrass in secondary fund stakes and GP-led continuation vehicles.
• Industry Ventures: Specialist secondary and primary investor in venture and growth equity funds; an emerging direct peer given Auldbrass's growth-equity secondaries focus, with comparable deal types and LP base.
• Glendower Capital: Independent secondary private equity manager focused on LP-led portfolio transactions; a like-for-like boutique comparable to Auldbrass in scale and strategy.
• Greenspring Associates: Boutique secondaries and co-investment firm historically focused on VC and growth-equity secondaries; directly comparable to Auldbrass's growth-equity orientation and a known career path for several Auldbrass junior team members.

Broad incumbents

• HarbourVest Partners: Large, diversified private-markets investment manager with a broad secondaries practice; competes with Auldbrass for secondary mandates but as part of a much wider fund-of-funds and direct-investing platform.
• Evercore (Private Funds Group): Global investment bank with a Private Funds Group that advises on and participates in secondary transactions; a broad incumbent that overlaps with Auldbrass in GP-led continuation vehicles and secondary advisory mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Auldbrass Partners