Key Takeaways
- • Houlihan Lokey appointed Dan Buffery as managing director in its Capital Solutions Group to lead North American GP-led secondaries advisory practice, signaling strategic expansion in a high-growth market segment.
- • Buffery brings nearly a decade of relevant experience from HarbourVest Partners, where he managed GP- and LP-led secondaries investments and served on the Real Assets Investment Committee, plus 10 years at pension fund OPTrust focused on private market investing.
- • The hire reflects accelerating secondary market activity and institutional demand for complex continuation funds and secondary transactions, with Houlihan Lokey positioning itself to capture advisory wallet share in this expanding practice area.
- • Gregg Newman, global co-head of Capital Solutions Group, cited Buffery's "deep transaction expertise and long-standing leadership in infrastructure and real assets" as critical to maintaining competitive advantage as secondary market volumes grow.
- • The appointment demonstrates Houlihan Lokey's ability to attract senior talent to its private capital advisory platform amid intensifying competition for GP-led secondaries advisory mandates.
Summary
Houlihan Lokey has appointed Dan Buffery as a managing director within its Capital Solutions Group, reinforcing the investment bank's commitment to expanding its GP-led secondaries advisory capabilities. Buffery, based in New York, will lead the firm's North American GP-led secondaries advisory practice and advise private equity sponsors and investors on continuation funds and secondary market transactions—a segment experiencing accelerated institutional demand.
Buffery joins Houlihan Lokey from HarbourVest Partners, where he spent nearly a decade as a managing director in the Infrastructure and Real Assets Group. At HarbourVest, he directed both GP-led and LP-led secondaries investments, held voting membership on the Real Assets Investment Committee, and managed the HarbourVest Infrastructure Income Partnership portfolio. His background also includes a 10-year tenure at OPTrust, a Canadian pension fund, where he served as director of the private equity and infrastructure group, building extensive expertise in private markets and infrastructure assets.
Gregg Newman, managing director and global co-head of Houlihan Lokey's Capital Solutions Group, characterized Buffery's appointment as strengthening the firm's positioning in an increasingly competitive market. "Dan's deep transaction expertise and long-standing leadership in infrastructure and real assets make him an outstanding addition to our team," Newman stated. "As secondary market activity continues to accelerate, bringing on high-caliber talent like Dan ensures we remain at the forefront of delivering world-class, tailored solutions for our clients and demonstrates Houlihan Lokey's ability to attract top-tier talent to the platform."
The hire underscores the strategic importance of secondaries expertise to institutional investors and sponsors. GP-led secondaries—transactions in which general partners create continuation vehicles to extend the life of maturing funds or consolidate portfolio companies—have become a critical tool for managing fund transitions and addressing liquidity preferences. Buffery's infrastructure and real assets background positions him to address the complex structuring and stakeholder dynamics inherent in these transactions. The appointment reflects broader industry trends as secondary market volumes expand and institutional allocators increasingly seek specialized advisory counsel on these transactions.
Buffery joins Houlihan Lokey from HarbourVest Partners, where he spent nearly a decade as a managing director in the Infrastructure and Real Assets Group. At HarbourVest, he directed both GP-led and LP-led secondaries investments, held voting membership on the Real Assets Investment Committee, and managed the HarbourVest Infrastructure Income Partnership portfolio. His background also includes a 10-year tenure at OPTrust, a Canadian pension fund, where he served as director of the private equity and infrastructure group, building extensive expertise in private markets and infrastructure assets.
Gregg Newman, managing director and global co-head of Houlihan Lokey's Capital Solutions Group, characterized Buffery's appointment as strengthening the firm's positioning in an increasingly competitive market. "Dan's deep transaction expertise and long-standing leadership in infrastructure and real assets make him an outstanding addition to our team," Newman stated. "As secondary market activity continues to accelerate, bringing on high-caliber talent like Dan ensures we remain at the forefront of delivering world-class, tailored solutions for our clients and demonstrates Houlihan Lokey's ability to attract top-tier talent to the platform."
The hire underscores the strategic importance of secondaries expertise to institutional investors and sponsors. GP-led secondaries—transactions in which general partners create continuation vehicles to extend the life of maturing funds or consolidate portfolio companies—have become a critical tool for managing fund transitions and addressing liquidity preferences. Buffery's infrastructure and real assets background positions him to address the complex structuring and stakeholder dynamics inherent in these transactions. The appointment reflects broader industry trends as secondary market volumes expand and institutional allocators increasingly seek specialized advisory counsel on these transactions.
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