CVC Secondary Partners (Formerly known as Glendower Capital)
CVC Secondary Partners is a private markets investment manager specializing in secondary transactions in private equity and credit funds, serving institutional investors (pension funds, insurance companies, sovereign wealth funds) globally through LP portfolio acquisitions and GP-led continuation vehicles.
- Company typePrivate
- Founded2017
- HeadquartersLondon, United Kingdom
- Headcount101–250
- GTM typeB2B
- OfferingServices
What CVC Secondary Partners (Formerly known as Glendower Capital) does
CVC Secondary Partners (formerly Glendower Capital) is a private markets investment manager specializing in secondary transactions in private equity and credit funds. The firm pursues a two-pronged strategy: acquiring limited partner fund portfolios (LP secondaries) and executing general partner-led transactions, including single-asset and multi-asset continuation vehicles. The senior team has worked together in secondaries since 2005, originally at Deutsche Asset Management, then as Glendower Capital (founded 2017), and since 2022 within the CVC Capital Partners group, from which it rebranded to CVC Secondary Partners in 2024.
CVC Secondary Partners generates revenue through two streams standard to private equity fund management: recurring management fees on committed capital from institutional limited partners, and performance-based carried interest on investment returns. Its client base is composed entirely of institutional investors — pension funds, insurance companies, and sovereign wealth funds — accessed through direct enterprise sales supported by CVC's 29-office global network. Cumulative scale includes $15 billion+ in aggregate capital commitments, 200+ closed transactions, 1,800+ fund interests acquired, and 70+ bespoke continuation vehicles executed.
The product surface has expanded from a pure-play PE secondary manager into a broader private markets secondaries platform with the 2025 launch of a dedicated credit secondaries platform. Operational support is delivered through dedicated LP portals (Intralinks and eFront), and the firm has no disclosed proprietary technology platform beyond its in-house transaction-screening database. Recent landmark transactions include a $1.1 billion managed fund secondary with M&G Investments (December 2025) and a $2.3 billion single-asset continuation vehicle for SubCom led on behalf of Cerberus Capital Management (April 2026).
CVC Secondary Partners (Formerly known as Glendower Capital) firmographics
Firmographics- Name
- CVC Secondary Partners (Formerly known as Glendower Capital)
- Legal name
- CVC Secondary Partners Limited
- Website
- https://glendower.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- CVC Secondary Partners is a private markets investment manager specializing in secondary transactions in private equity and credit funds, serving institutional investors (pension funds, insurance companies, sovereign wealth funds) globally through LP portfolio acquisitions and GP-led continuation vehicles.
- Ownership category
- akta.pro rank
CVC Secondary Partners (Formerly known as Glendower Capital) industry classification
Industry- Product category
- Private Markets Investment Management
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Secondary Venture Funds (VC Secondaries) (FSANAAAK)
- akta.pro secondary industries
- LP Secondaries — Venture Capital Funds (FSAHALAB), Corporate Venture Capital (CVC) (FSANAAAF)
Keywords
Where CVC Secondary Partners (Formerly known as Glendower Capital) is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
CVC Secondary Partners (Formerly known as Glendower Capital) business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Management Fees: CVC Secondary Partners charges management fees on committed capital from institutional investors (pension funds, insurance companies, and other leading institutions) who invest in their secondary funds.
- Carried Interest: The firm earns performance-based carried interest on investment returns generated for Limited Partners across their secondary private equity and credit fund investments.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
CVC Secondary Partners (Formerly known as Glendower Capital) product offering
Product offeringCore offering
CVC Secondary Partners is a private markets investment manager that acquires limited partner fund interests in private equity and credit funds and structures GP-led continuation vehicles, providing liquidity solutions to institutional sellers and fund managers. The firm pursues a two-pronged strategy focused on LP fund portfolios and GP-led transactions, managing $15 billion in aggregate capital commitments and screening approximately US$1 trillion of secondary transactions across its history.
Product overview
CVC Secondary Partners operates as a unified private markets investment management platform offering private equity and credit secondaries investment solutions. The core offering consists of two integrated strategies: LP Fund Portfolios (secondary acquisitions of fund interests managed by 500+ managers across 1,800+ fund interests) and GP-Led Transactions (including bespoke continuation vehicles). The 2025 launch of the Credit Secondaries Platform expanded the offering to include credit fund secondaries. The firm has aggregate capital commitments of $15 billion and has screened approximately US$1 trillion of secondary transactions. Formerly known as Glendower Capital (2017-2024), the business traces its heritage to Deutsche Asset Management's secondary business founded in 2005.
Differentiator
Problem solved
Functional benefit
Products and services
- LP Fund Portfolios Secondary acquisition of limited partner interests in private equity and credit funds, enabling sellers to achieve liquidity while providing buyers access to diversified fund interests across 500+ managers.
- GP-Led Transactions and Continuation Vehicles Bespoke continuation vehicles and liquidity solutions for general partners seeking to extend partnerships or provide liquidity to existing investors, including single-asset and multi-asset continuation vehicles.
- Credit Secondaries Platform Dedicated platform for secondary transactions in credit fund interests and GP-led credit transactions, expanding the firm's capabilities beyond private equity secondaries into the credit asset class.
Quantifiable outcome
- 200+ secondary transactions completed with 1,800+ fund interests acquired
- +3 more outcomes
Companies that use CVC Secondary Partners (Formerly known as Glendower Capital)
Customer profileSegments1 record
Ideal customer profiles2 records
CVC Secondary Partners (Formerly known as Glendower Capital) technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
CVC Secondary Partners (Formerly known as Glendower Capital) partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Glendower CapitalcoreCVC Secondary Partners was established in 2022 by acquiring Glendower Capital, a secondary private equity firm that was originally founded in 2017 after its founding partners spun out the secondary business they founded in 2005 at Deutsche Asset Management. The business was renamed CVC Secondary Partners in 2024.
Scale indicators10 records
Recent moves9 records
Expansion highlights5 records
CVC Secondary Partners (Formerly known as Glendower Capital) competitors and assessment
Company assessmentDirect peers
- Lexington Partners: One of the largest and most established secondary private equity fund managers globally, focused on LP secondaries and GP-led continuation vehicles. Directly comparable to CVC Secondary Partners in strategy, scale, and institutional LP base.
- AlpInvest Partners: Secondary PE and co-investment manager, wholly owned by The Carlyle Group. Directly comparable secondary PE strategy, with similar access to institutional capital and GP-led transaction expertise.
- Partners Group: Global private markets investment manager with a substantial secondary private equity program alongside primaries and direct investments. Comparable in secondary strategy scale and cross-platform institutional capabilities.
- Ardian Secondary: Ardian's Secondary Fund of Funds business is a leading global secondary PE manager with very large AUM. Closely comparable in target secondary transactions, GP-led solutions, and institutional investor focus.
- HarbourVest Partners: Global private markets investment manager with a substantial secondary investment practice across LP secondaries, GP-led secondaries, and primary PE fund commitments. Directly comparable in products, investor base, and institutional scale.
- Pantheon Ventures: Private equity fund-of-funds and secondary investment manager with global reach. Comparable in secondary fund commitments, GP-led continuation vehicles, and institutional LP relationships.
- Aermont Capital: European-based private equity secondary and continuation vehicle manager. Directly comparable in GP-led continuation vehicles and European secondary deal flow.
- LGT Capital Partners: Swiss-based alternative investment manager with a global secondary private equity practice. Comparable in secondary fund-of-funds investing and institutional LP distribution model.
- Neuberger Berman Secondary: Established secondary private equity franchise within Neuberger Berman, focused on both LP-led and GP-led secondary transactions. Comparable in strategy and institutional investor focus.
Broad incumbents
- Blackstone Secondary: Blackstone operates a secondary investment practice as part of its broader alternatives platform. While not solely focused on secondaries, it competes for large secondary transactions and continuation vehicles from a position of substantial scale and brand.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
CVC Secondary Partners (Formerly known as Glendower Capital) social profiles
Digital presenceCVC Secondary Partners (Formerly known as Glendower Capital) financial estimates
Financial estimateRevenue estimate
Valuation estimate
CVC Secondary Partners (Formerly known as Glendower Capital) leadership team
Management profileNumber of profiles
Profiles9 records
CVC Secondary Partners (Formerly known as Glendower Capital) funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CVC Secondary Partners (Formerly known as Glendower Capital) M&A and investment
M&A and investmentM&A1 record
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CVC Secondary Partners (Formerly known as Glendower Capital)
What does CVC Secondary Partners (Formerly known as Glendower Capital) do?
CVC Secondary Partners is a private markets investment manager that acquires limited partner fund interests in private equity and credit funds and structures GP-led continuation vehicles, providing liquidity solutions to institutional sellers and fund managers. The firm pursues a two-pronged strategy focused on LP fund portfolios and GP-led transactions, managing $15 billion in aggregate capital commitments and screening approximately US$1 trillion of secondary transactions across its history.
Is CVC Secondary Partners (Formerly known as Glendower Capital) a public or private company?
CVC Secondary Partners (Formerly known as Glendower Capital) is a private company. It is classified as corporate owned and is currently operating.
When was CVC Secondary Partners (Formerly known as Glendower Capital) founded?
CVC Secondary Partners (Formerly known as Glendower Capital) was founded in 2017. It employs 101 to 250 people.
Where is CVC Secondary Partners (Formerly known as Glendower Capital) based?
CVC Secondary Partners (Formerly known as Glendower Capital) is headquartered in London, United Kingdom, in the Europe region.
How does CVC Secondary Partners (Formerly known as Glendower Capital) make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are CVC Secondary Partners (Formerly known as Glendower Capital)'s main competitors?
Direct peers on record are Lexington Partners, AlpInvest Partners, Partners Group, Ardian Secondary, HarbourVest Partners, Pantheon Ventures, Aermont Capital, LGT Capital Partners and Neuberger Berman Secondary. Blackstone Secondary is listed as a broad incumbent.
Does CVC Secondary Partners (Formerly known as Glendower Capital) have an API?
No public API is recorded for CVC Secondary Partners (Formerly known as Glendower Capital).
What industry is CVC Secondary Partners (Formerly known as Glendower Capital) in?
CVC Secondary Partners (Formerly known as Glendower Capital)'s product category is Private Markets Investment Management. Its primary akta.pro industry code is FSANAAAK, Secondary Venture Funds (VC Secondaries), with a secondary code of FSAHALAB, LP Secondaries — Venture Capital Funds. Its NAICS code is 5231 and its SIC code is 6211.