ICAP Secondary Markets Group
The growing secondary market in illiquid assets demands new solutions to meet investors’ evolving needs. ICAP, the world’s largest interdealer broker, has recently launched the Secondary Markets Group (SMG) specifically to serve sophisticated investors in illiquid assets of all kinds.
Services Offered
Working with the highest degree of confidentiality and industry best practices, we provide our clients with market-leading, up-front pricing information and insight, transaction structuring, and execution.
Products covered include private equity, hedge fund and real estate fund limited partnership interests, as well as certain direct investments. Transaction structures range from relatively straightforward “one-off” transfers of LP interests to more involved M&A-style portfolio transactions to complex structured solutions.
We add real, measurable value for our clients across multiple dimensions:
• Price optimization. Uncovering incremental demand and maximizing competitive tension among buyers.
• Confidentiality preservation. Protecting institutions and staff from undesirable intrusions.
• Resource conservation. Allowing clients to focus on their core responsibilities, rather than time-intensive disposition processes.
Our Clients
The SMG serves the entire spectrum of investors in illiquid assets, including asset managers, corporates, endowments, family offices, financial institutions, foundations, fund of funds and public and private pensions. We only work on behalf of potential sellers; our advice is never conflicted by buy-side or primary fundraising mandates.
The ICAP SMG Advantage
We offer our clients a unique value proposition among secondary market intermediaries.
• Experience and Expertise. Experience with a variety of transaction structures on behalf of all types of clients.
• Affiliation with ICAP. Global reach and best-in-class infrastructure of one of the world’s leading financial institutions.
• Flexibility of approach. Processes structured to meet clients’ needs – not fit a pre-determined “cookie cutter.”
• Secondary Market Focus. No primary fundraising or investment consulting conflicts.
• Rigorous Analysis. Bottoms-up fundamental valuation work married to market insight and responsiveness.
About the Secondary Markets Group
The principals of the SMG have been involved in some of the leading transactions in the secondary market and maintain relationships with all major market participants. By marrying a deep domain expertise in the alternative asset class with ICAP’s world-class brokerage and marketing capabilities, the SMG is bringing a new paradigm to bear on the secondary market.
The group is led by Brad Critchell, supported by professionals in Jersey City, New Jersey and Frankfurt, Germany, who collectively have over a half-century of experience in the financial markets. Brad was most recently a Director with Cogent Partners, a secondary private equity intermediary; previously he worked as an investment banker at Credit Suisse and its predecessor institutions, as well as Montgomery Securities. Brad holds an A.B. (magna cum laude) from Brown University and a J.D. from Columbia, where he was a Harlan Fiske Stone Scholar and a member of the Business Law Review.
How to contact us
To find out more about the secondary market and how ICAP’s SMG can help you reach your goals, please contact:
Brad Critchell
Group Head
ICAP Secondary Markets Group
Harborside Financial Center
1100 Plaza Five
Jersey City, NJ 07311
(212) 341-9973
bradley.critchell@us.icap.com