APG exec jumps to Argosy Capital for secondaries build-out

Argosy Strategic Partners is led by former Willowridge Partners executive Christopher Kim and targets small portfolio and direct secondaries deals.

Lower mid-market private equity firm Argosy Capital is building out a secondaries investment unit.

The Wayne, Pennsylvania-headquartered firm has hired William Wang as a principal in its Argosy Strategic Partners unit, according to its website. He will be responsible for sourcing and assessing investment opportunities, fund management and investment monitoring.

Wang joins from three years with Dutch pension APG Asset Management where he was a founding member of the in-house secondaries team, Secondaries Investor reported in 2018. Prior to that he spent four years with Willowridge Partners, according to his LinkedIn profile, which has been updated to reflect his latest role.

Argosy appointed Christopher Kim as managing partner of its Strategic Partners group in 2019, according to its website. He also came from Willowridge, where he was a vice-president.

Argosy will target transactions up to $5 million in size across buyout, venture capital, growth capital, real estate, energy and credit, according to its website. The firm will focus primarily on portfolios of limited partnership stakes as well as direct secondaries.

Since 2019, Argosy Strategic Partners has invested in secondaries out of an internal fund structure centred on a limited number of LPs, according to a source familiar with the firm. It plans eventually to raise a third-party fund to cater to sellers in an area of the market often considered too small for institutional secondaries buyers.

Argosy Capital has $1.3 billion of assets under management across private equity, real estate and credit.

Argosy and APG did not return requests for comment by the time of publication.