Palico, a private equity intermediary and marketplace, has relaunched its secondaries platform to better match sellers and buyers.
Rebranded as Secondaries Match, the platform now sends emails to interested buyers based on their wishlists. Buyers can contact sellers anonymously through the platform and execute the trade offline, in which Palico takes a commission from the buyer.
“Before, stakes could be posted for sale and investors could browse them, but there was no effort to match or promote secondaries with relevant buyers,” David Lanchner, a Palico spokesman, told Secondaries Investor. Palico found that limited partner members of its platform were keen to sell fund stakes if such offerings were not visible to all members.
“They feel discretion is key to getting the best pricing and avoiding the impression of an offer-saturated market,” Lanchner said.
Palico began testing the platform over the summer with 26 buyers and sellers, and four sales were completed over a three month period.
Palico has more than 33,000 professional members, including over 2,600 accredited investors from 140 countries, according to its website.