Fund Lives Run Long. Your Needs Don’t Wait.
You committed capital to a fund expecting distributions over a set period. Years later, the fund is still holding companies, distributions are slower than planned, and capital calls may still be coming.
Your circumstances may have changed: a rebalanced portfolio, an estate to settle, or a new opportunity that needs the cash. Selling the interest is possible, but it runs through fund documents, general partner consent and buyers who price fund interests carefully.
Some limited partners simply wait for the fund to finish. Others accept a single quote without knowing what else is possible.
What It Costs You
Locked Capital
Money committed years ago is still tied up.
Future Calls
Unfunded commitments can still draw on your cash.
Rebalancing
The interest no longer fits your portfolio.
Complexity
Transfers require fund documents, GP consent and buyer diligence.
What an LP Stake Sale Is
An LP stake sale is the transfer of a limited partner’s interest in a private fund to a new investor. The buyer takes on the interest, including any remaining unfunded commitment, and the general partner typically must consent to the transfer.
We help limited partners find qualified buyers confidentially, negotiate terms, and coordinate the general partner’s consent process through closing. Funds selling portfolio-company shares should see Direct secondaries for funds.
At a Glance
- Best for Limited partners in private funds
- Position size $500K minimum
- Typical steps Fund document review, GP consent, buyer diligence
- Fees Competitive with industry standards
- Confidentiality Information shared only as needed
What Changes With a Process Behind the Sale
Waiting for the fund to wind down
Plan around liquidity on your timeline
Funding capital calls you no longer want
Hand future commitments to a buyer who wants them
Accepting the only quote you have
Compare interest from more than one qualified buyer
Discovering transfer rules late
Know the GP consent steps before you commit
How an LP Stake Sale Works
01
Understand Your Goals
Which interest, how much, and the timing you need.
02
Review the Documents
Transfer provisions, consent rights and any rights of first refusal.
03
Find the Buyer
Confidential outreach to qualified buyers in our network.
04
Agree the Terms
Price, terms and the general partner’s consent.
05
Close the Transaction
Documentation, settlement and the transfer of the shares.
Why Sell Side Securities
Relationship-Led
The Modern Handshake Deal™ pairs technology that finds counterparties with relationships that close transactions. You work with people who know your position, not a listing form.
Confidential by Design
Outreach is discreet, and information about your position is shared only as needed with qualified counterparties. Company approval steps are explained before they happen.
Both Sides of the Trade
We work with sellers and with buyers, so we know what each side needs to reach a closing, and we keep the process moving when approvals take time.
Frequently Asked Questions
Does the general partner have to approve the sale?
In most funds, yes. Fund documents usually require GP consent and may include rights of first refusal. We review them before outreach begins.
What happens to my unfunded commitment?
It typically transfers to the buyer along with the interest, which is one reason buyers review fund interests carefully.
Can I sell part of my interest?
Sometimes. It depends on the fund documents and buyer interest.
How do your fees work?
Our fees are competitive with industry standards and explained in full before you engage us.
Start a Confidential Conversation
Tell us about the position you hold or the one you’re looking for. We’ll reply by email to discuss whether a transaction is possible. Fit runs both ways, and there’s no obligation.