Key Takeaways
- • Headlands Capital, founded by former Paul Capital managing partner David Park and Hoover Investment Management executive David Cost, has completed an interim close on its third fund.
- • The firm operates in the secondaries market, focusing on secondary private equity investments and portfolio management.
- • Headlands Capital represents a continuation of secondaries expertise previously developed at Paul Capital, with experienced leadership now operating independently.
Summary
Headlands Capital has reached an interim close on its latest fund, according to reporting from PEI Secondaries Investor. The firm was founded by David Park, a former managing partner at Paul Capital, alongside David Cost, an executive from Hoover Investment Management. This interim close marks a significant milestone for the independently operated secondaries investment platform.
The formation of Headlands Capital reflects continued activity and institutional confidence in the secondaries market segment, which focuses on the purchase and sale of existing private equity fund interests and related portfolio assets. By establishing an independent platform, Park and Cost have positioned themselves to execute on a dedicated secondaries strategy outside of their previous institutional affiliations.
The interim close mechanism allows Headlands Capital to begin deploying capital while continuing its fundraising efforts toward a final close. This approach is common in the secondaries space, where fund sponsors often secure early commitments from anchor investors before completing their total fundraising target. The move underscores ongoing investor appetite for experienced managers in the secondaries sector, particularly those with established track records at larger platforms like Paul Capital.
The formation of Headlands Capital reflects continued activity and institutional confidence in the secondaries market segment, which focuses on the purchase and sale of existing private equity fund interests and related portfolio assets. By establishing an independent platform, Park and Cost have positioned themselves to execute on a dedicated secondaries strategy outside of their previous institutional affiliations.
The interim close mechanism allows Headlands Capital to begin deploying capital while continuing its fundraising efforts toward a final close. This approach is common in the secondaries space, where fund sponsors often secure early commitments from anchor investors before completing their total fundraising target. The move underscores ongoing investor appetite for experienced managers in the secondaries sector, particularly those with established track records at larger platforms like Paul Capital.
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