Key Takeaways
- • INVL Family Office launched a Global PE Secondaries Access Fund approved by the Bank of Lithuania in June 2026, targeting the rapidly expanding private equity secondary market with a USD 145,000 minimum investment.
- • Adams Street Partners, a U.S.-based manager with over USD 65 billion in assets under management and 40+ years of secondary market experience since 1986, will manage the fund's diversified portfolio of private equity funds acquired through secondary transactions.
- • The fund enables investors to gain indirect exposure to more than 1,000 private companies while acquiring established PE portfolios at discounts to net asset value, addressing investor demand for flexible capital deployment and efficient allocation.
- • The private equity secondary market has become increasingly central to institutional portfolios due to its capacity to provide faster capital deployment, broad diversification, and strategic portfolio management compared to direct private equity commitments.
Summary
INVL Family Office, one of the Baltic states' largest multi-family offices, has introduced a Global PE Secondaries Access Fund designed to capture growth opportunities in the private equity secondary market. The fund received regulatory approval from the Bank of Lithuania in June 2026 and operates as a closed-end vehicle structured for informed investors with a minimum commitment of USD 145,000.
The fund's strategy centers on acquiring established private equity fund interests through secondary market transactions, with management delegated to Adams Street Partners, a U.S.-based investment firm with substantial expertise in this space. Adams Street manages more than USD 65 billion in assets globally, operates across 13 offices in eight countries, and has maintained a presence in the secondary market since 1986—providing nearly four decades of track record in this specialized segment.
According to Asta Jovaišienė, Head of INVL Family Office, the decision to launch the fund reflects evolving institutional investor preferences. "Investors' interest in gaining exposure to established private equity portfolios, combined with the possibility to acquire them at a discount to net asset value, led us to add a private equity secondary market strategy to our offering," she noted. The fund structure enables participating investors to access indirect exposure to more than 1,000 private companies while benefiting from faster capital deployment and enhanced portfolio diversification compared to traditional primary market commitments.
The broader trend toward secondary market strategies reflects a fundamental shift in how institutional capital allocates to private equity. Rather than committing to new funds with extended deployment periods and illiquidity windows, secondary market vehicles offer flexibility to acquire proven portfolios at potential valuations discounts, while still maintaining meaningful private company exposure. This positioning aligns with institutional investors' increasingly sophisticated approaches to managing illiquid asset exposure and optimizing return profiles across their alternative investment allocations.
The fund's strategy centers on acquiring established private equity fund interests through secondary market transactions, with management delegated to Adams Street Partners, a U.S.-based investment firm with substantial expertise in this space. Adams Street manages more than USD 65 billion in assets globally, operates across 13 offices in eight countries, and has maintained a presence in the secondary market since 1986—providing nearly four decades of track record in this specialized segment.
According to Asta Jovaišienė, Head of INVL Family Office, the decision to launch the fund reflects evolving institutional investor preferences. "Investors' interest in gaining exposure to established private equity portfolios, combined with the possibility to acquire them at a discount to net asset value, led us to add a private equity secondary market strategy to our offering," she noted. The fund structure enables participating investors to access indirect exposure to more than 1,000 private companies while benefiting from faster capital deployment and enhanced portfolio diversification compared to traditional primary market commitments.
The broader trend toward secondary market strategies reflects a fundamental shift in how institutional capital allocates to private equity. Rather than committing to new funds with extended deployment periods and illiquidity windows, secondary market vehicles offer flexibility to acquire proven portfolios at potential valuations discounts, while still maintaining meaningful private company exposure. This positioning aligns with institutional investors' increasingly sophisticated approaches to managing illiquid asset exposure and optimizing return profiles across their alternative investment allocations.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.