Secondaries Fund Services


Extensive market experience and advanced technology come together to support your secondaries ambitions

Partner with Alter Domus to make every secondary count

Secondaries are increasingly proving to be vital financial vehicles for both asset managers and asset owners, especially during times of economic uncertainty.

So whether you’re an LP seeking to generate liquidity, or a GP looking setting up continuation funds and reduce the administrative burden, Alter Domus are ready to help our clients make every secondary count. 

We’ve combined deeply experienced and dedicated secondaries teams with the latest fund administration technology to help our clients capitalize on their opportunity and deal with any complexity or volume.

Our vertically integrated model enables us provide support and bespoke solutions for the entire value chain and across our extensive range of services, from depositary to AIFM and accounting. Contact us here to discuss your secondaries strategies with our team. 

Secondaries Fund Services

Why Choose Alter Domus for your Secondaries Strategy

Specialist expertise, scalable technology and integrated support to help secondaries managers operate with confidence across the fund lifecycle:

$70bn

Secondaries assets under administration

$4.5tn

Global assets under administration

185+

Secondaries fund entities serviced

7,000+

Professionals in 23 jurisdictions

Our model was built for direct lending, CLOs, BDC, and hybrid structures, not repurposed from a private equity framework. That distinction matters when portfolios scale and complexity compounds.

Our teams can navigate the complexities of secondaries from servicing all entities and SPVs as they are needed, to reporting and tracking meaningful attributes and calculations of the fees/hurdles.

With over over $70bn secondaries assets under administration and 185 funds with secondaries strategies, we have the experience that you require.

Why Secondaries require a Different Approach

Alter Domus combines specialist expertise and scalable infrastructure to help managers navigate the complex structures, fast-moving transactions and demanding requirements unique to secondaries.

Secondaries ChallengeWhat it means for GPsHow Alter Domus supports you
Complex transaction structuresLP-led transactions, GP-led secondaries, continuation vehicles and other structures each create distinct accounting, administration and reporting requirements. Specialist expertise and scalable infrastructure support a broad range of secondary structures throughout their lifecycle.
Compressed execution timelinesSecondary transactions can involve significant volumes of data, investor activity and operational strain within demanding transaction timelines. Integrated teams, technology and established processes help managers execute efficiently while maintaining accuracy and control.
Multiple layers of dataGPs may need to consolidate information across underlying funds, assets, investors, and vehicles to maintain accurate books and reporting.Technology-enabled administration brings together fund, investment, and investor data to improve consistency, transparency, and visibility.
Investor reporting and transparency Secondary investors increasingly require timely, detailed information across investments, valuations, and performance. Integrated administration and reporting capabilities help deliver accurate, consistent information to GPs and LPs.
Cross-border complexity Global investor bases and multi-jurisdictional structures can create additional regulatory, tax and operational requirements.Alter Domus combines global reach with local expertise to support secondary structures across major alternative investment jurisdictions.

Capitalizing on the secondaries opportunity

As the secondaries market continues to grow and evolve, GPs and LPs need an administrative partner with the expertise and capabilities to support increasingly complex transactions. Discover what sets Alter Domus apart and how our experiences and expertise can support your secondary strategies.

Our Secondaries Solutions

Fund Administration

Fueling growth and reducing risk through integrated, tech-driven administration support.

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Private Equity Solutions

Customized support from sector specialists, and proprietary systems, that allow you to increase your market advantage.

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Private Credit Solutions

Front-to back-office support for managers of direct lending, CLOs, and broadly syndicated loans.

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Real Estate Solutions

Benefit from hands-on expertise and tech-driven services designed to support your real estate strategy at every stage.

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Infrastructure Solutions

Infrastructure requires an operating model built for scale, longevity, and regulatory intensity

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FAQs

Secondaries involve the purchase and sale of existing interests in private market investments. They generally include LP-led transactions, where an investor sells an existing fund interest, and GP-led transactions, where a fund manager creates a liquidty solution around one or e more existing portfolio assets.

In an LP-led secondary transaction, an existing investor typically sells its interest in a private market fund. In a GP-led transaction, the fund manager initiates the process, often transferring assets into a continuation vehicle while providing existing investors with liquidity or the option to retain exposure.

A continuation vehicle is an investment structure commonly used in GP-led secondary transactions. It enables one or more assets to move from an existing fund into a new vehicle, providing additional time for value creation while offering liquidity options to existing investors.

Secondary transactions can involve multiple funds, entities, investors, assets, and jurisdictions, creating additional complexity across accounting, investor servicing, capital activity and reporting. A specialist administrator can provide the infrastructure and expertise needed to coordinate these requirements throughout the transaction lifecycle.