Key Takeaways
- • Houlihan Lokey has appointed Emil Fajersson as Managing Director in its Capital Solutions Group, positioning him as a senior leader within the Equity Capital Solutions team based in New York.
- • Fajersson brings direct secondaries market expertise from his role at Northleaf Capital Partners, where he served as Managing Director and Head of GP-Led Investments & Co-Investments, providing the investment bank with investor-side perspective on liquidity transactions.
- • The hire reflects Houlihan Lokey's strategic expansion into GP-led secondaries advisory, a growing segment of private markets where sponsors seek liquidity solutions for portfolio assets through continuation vehicles and other structures.
- • Fajersson's career encompasses middle-market private equity (Vision Capital), infrastructure investment (Macquarie), and institutional banking (UBS), providing diversified experience across capital markets and alternative assets.
- • GP-led secondaries have matured significantly over the past two years with increased investor participation and deal flow, establishing the sector as an increasingly central component of private capital strategies.
Summary
Houlihan Lokey has expanded its GP-led secondaries advisory capabilities with the appointment of Emil Fajersson as Managing Director in the Capital Solutions Group. Based in New York, Fajersson will serve as a senior leader within the firm's Equity Capital Solutions team as part of a broader strategic push to build a larger advisory franchise around private-market liquidity and GP-led secondary transactions.
Fajersson joins from Northleaf Capital Partners, where he held the position of Managing Director and Head of GP-Led Investments & Co-Investments and served as Portfolio Manager of Northleaf's Capital Opportunities Fund. His background uniquely positions Houlihan Lokey to advise private equity sponsors from an informed investor perspective, given his direct experience on the capital-providing side of secondaries transactions. His prior career includes roles as Principal at middle-market private equity firm Vision Capital, as well as positions at UBS Investment Bank and Macquarie's infrastructure investment group.
The appointment underscores the growing significance of GP-led secondaries in alternative capital markets. Unlike traditional LP-led secondary transactions where investors sell existing fund interests, GP-led deals are typically initiated by private equity sponsors seeking to provide liquidity around specific portfolio companies while maintaining or extending ownership through structures such as continuation vehicles. This market segment has experienced substantial maturation over the past two years, driven by broader investor participation and expanding deal opportunities, according to Fajersson's observations on market conditions.
Houlihan Lokey's continued expansion in this advisory space reflects the firm's recognition that GP-led secondaries have evolved from a niche strategy to an established component of private capital markets. The hire follows similar recent initiatives, including the firm's expansion into GP-led secondaries within real estate earlier in 2026, indicating a coordinated firmwide strategy to capitalize on this growing advisory market.
Fajersson joins from Northleaf Capital Partners, where he held the position of Managing Director and Head of GP-Led Investments & Co-Investments and served as Portfolio Manager of Northleaf's Capital Opportunities Fund. His background uniquely positions Houlihan Lokey to advise private equity sponsors from an informed investor perspective, given his direct experience on the capital-providing side of secondaries transactions. His prior career includes roles as Principal at middle-market private equity firm Vision Capital, as well as positions at UBS Investment Bank and Macquarie's infrastructure investment group.
The appointment underscores the growing significance of GP-led secondaries in alternative capital markets. Unlike traditional LP-led secondary transactions where investors sell existing fund interests, GP-led deals are typically initiated by private equity sponsors seeking to provide liquidity around specific portfolio companies while maintaining or extending ownership through structures such as continuation vehicles. This market segment has experienced substantial maturation over the past two years, driven by broader investor participation and expanding deal opportunities, according to Fajersson's observations on market conditions.
Houlihan Lokey's continued expansion in this advisory space reflects the firm's recognition that GP-led secondaries have evolved from a niche strategy to an established component of private capital markets. The hire follows similar recent initiatives, including the firm's expansion into GP-led secondaries within real estate earlier in 2026, indicating a coordinated firmwide strategy to capitalize on this growing advisory market.
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