Founded in 2004, Headway Capital is an independent investment firm providing a full range of liquidity solutions to investors seeking exits or alternatives for their private equity assets.Headway Capital purchases limited partnership positions in private equity funds, portfolios of direct private equity investments, and minority stakes in single companies. Headway Capital also leads and participates in tail end transactions, provision of liquidity facilities for private equity portfolios, fund restructurings and GP led transactions. We specialise in small to mid size secondary transactions (< €50 million) and invest globally with a focus on Western Europe and North America.
Headway Capital provides effective, customised liquidity solutions tailored to meet each seller's unique needs and objectives. We have significant experience structuring and executing complex secondary transactions, particularly secondary direct portfolios and structured secondary transactions.Headway Capital has a broad investment mandate and invests across all geographies, sectors and investment stages which allows us to provide liquidity solutions for a full range of private equity assets:
Headway Capital understands that each seller is different and focuses on creating effective solutions tailored to meet each seller’s unique needs and objectives.All types of private equity investors actively use the secondary market to achieve liquidity for a wide range of strategic and financial reasons:
|Private equity funds|
|Endowments and foundations|
|Family offices and individuals|
|Reasons for Selling|
|Reduce unfunded commitments|
|Reduce private equity exposure|
|Refocus on core businesses|
|Redeploy capital to other investments or opportunities|
|Reduce administrative burden|
|Reduce volatility of earnings|
|Meet current cash needs|
From a seller's perspective, Headway Capital's broad secondary investment mandate enables us to provide liquidity for all types of private equity investments: portfolios of direct investments, co-investments and limited partnership positions. Headway Capital invests across all geographies, industry sectors and investment stages from venture to buyout. Leveraging our deep experience in structuring secondary transactions, Headway Capital works in partnership with sellers to understand their unique needs and objectives in order to create mutually beneficial solutions through tailored solutions. We also pride ourselves on our ability to efficiently and effectively evaluate and execute any type of secondary investment opportunity.
Headway Capital provides a unique secondary investment opportunity for investors and focuses on developing value-added long term investor relationships.Headway Capital currently advises 5 funds and several co-investment vehicles with over $850 million of combined commitments and has additional co-investment capital available from its investors. All funds are focused on private equity secondary transactions:
Headway Capital understands general partners’ concerns and is a supportive replacement limited partner, value-added business partner and liquidity provider.General partners are increasingly participating in secondary transactions, either indirectly through LP position transfers within their funds and co-investment transfers within their portfolio companies or directly through sales of their own tail end fund portfolios. Headway Capital's broad secondaries mandate and long experience makes us an ideal partner in any of these situations.
Headway Capital has deep experience in evaluating and executing secondary purchases of direct portfolios and has already provided liquidity to a number of general partners by purchasing their tail end fund portfolios. Headway Capital has a flexible approach and can continue to retain a general partner for ongoing management of a tail end portfolio or, if required, Headway Capital is able to provide skilled, board-level oversight through outsourced third party managers. If required, Headway Capital is also able to support portfolio companies with additional follow-on investment.
Headway Capital is a supportive investor in various GP led transactions, including fund restructurings. Given Headway Capital’s broad mandate and experience in all types of secondary transactions, we can be a valuable partner in structuring transactions to meet a GP’s goals.
Headway Capital also purchases co-investments or minority stakes in single portfolio companies who have at least one established private equity or venture capital investor. Certain co-investors may prefer a different timeline to exit than a lead private equity investor and Headway Capital is a supportive replacement co-investor.
Headway Capital is a helpful replacement limited partner who has no conflicts of interest and who may be supportive in future fund raisings through our unique investor base. Headway Capital is able to execute LP position transfers efficiently and is currently a replacement LP in a number of venture capital, private equity and infrastructure funds and funds of funds in Europe, the US and abroad.
Headway Capital is an ideal secondary partner for investors, sellers, general partners and portfolio companies.
Having closed over 90 secondary transactions, Headway Capital offers certainty of closure, efficiency of process, fast reaction and skilled execution.
Headway Capital is dedicated to building long term relationships and often works with repeat sellers and repeat secondary direct managers.
Headway Capital Partners LLP
250 Tottenham Court Road
Main : +44 20 7518 8888
Fax : +44 20 7900 3160
E-mail : email@example.com
HCP US, Inc.
30 Monument Square, Suite 302
Concord, MA 01742
Main : +1 617 899 8946