GP-Led & LP-Led Secondary Advisory

Research & Insights
Lazard Newsroom
Featured News & Insights
- The New Supply-Side Era: The O-Ring Meets Geopolitics
  The dominance of single points of failure now operates at the scale of the world economy, requiring policymakers and business leaders to look beyond the narrow economic frame that traditional models capture.
- Ron Temple's Global Mid-Year Outlook 2026: Three Core Convictions Shaping Markets
  Lazard's Chief Market Strategist explores the forces reshaping global markets in the second half of 2026—including a weakening U.S. dollar, steepening yield curves in developed markets, and a narrowing performance gap between U.S. and non-U.S. markets.

Secondary advisory is one of the fastest-growing areas of private capital, and Lazard CL brings together one of the largest and most experienced secondary advisory practices in the industry.

Our secondary platform provides access to the full spectrum of liquidity and capital solutions, matched to specific client objectives.

GP-led secondaries: we structure and execute continuation vehicles, single and multi-asset, alongside tender offers, strip sales and preferred equity structures, creating liquidity for existing LPs while enabling managers to retain and continue compounding value in high-conviction assets.

LP-led secondaries: we advise investors on portfolio sales, stapled transactions and structured solutions to rebalance exposures, manage denominator effects or accelerate liquidity.

Direct capital raising strategies: we execute co-investment syndications and single-asset deal-by-deal raises, both alongside primary fundraises and on a standalone basis — matching structure and timing to underlying asset characteristics and investor demand.

This breadth allows us to navigate a wide range of client situations, drawing on the latest transaction structures across asset classes well beyond traditional private equity.