Key Takeaways
- • TA Associates has made a strategic minority investment in Kline Hill Partners, an investment firm specializing in private equity secondaries, with the deal expected to close in Q2 2025.
- • Kline Hill has raised over $5.4 billion in assets under management across five fund series since its 2015 founding, closing or signing more than 160 deals in 2024 alone and over 625 since inception.
- • The partnership leverages TA's deep experience in asset and wealth management to support Kline Hill's expansion in the small-deal secondaries market, particularly in LP fund transfers, GP-led transactions, and secondary direct deals across private equity, venture capital, and growth equity.
- • Kline Hill has transferred approximately 3,000 interests and operates from offices in Greenwich, Connecticut; Zurich; and the Philippines, serving a diverse investor base including endowments, foundations, family offices, and institutional investors.
- • Financial terms of the investment were not disclosed; Goodwin provided legal counsel to TA Associates on the transaction.
Summary
TA Associates, a leading global private equity firm, has announced a strategic minority investment in Kline Hill Partners, a Greenwich, Connecticut-based investment firm focused on the private equity secondary market. The deal, announced on April 29, 2025, is expected to close in the second quarter of 2025, subject to customary closing conditions. Financial terms were not disclosed.
The investment represents a significant validation of Kline Hill's specialized strategy in the small-deal secondaries market. Michael Bego, Managing Partner and Founder of Kline Hill, characterized the partnership as "an exciting new chapter" for the firm, emphasizing TA's endorsement of Kline Hill's strategy, team, and growth trajectory. According to Bego, the partnership will support Kline Hill's continued expansion at scale while building out its technology platform and deepening investment expertise. Priya Karkar, Head of Investor Relations at Kline Hill, noted that TA's focus on returns for investors and long-term, sustainable growth aligned with the firm's values.
Kline Hill, founded in 2015, has established itself as a leader in the niche secondaries segment, particularly in underserved subsectors such as smaller LP and GP-led transactions. The firm currently manages over $5.4 billion in assets under management across five fund series, with a diverse investor base encompassing endowments, foundations, family offices, and other institutional investors. In 2024 alone, Kline Hill closed or signed more than 160 deals, bringing its total deal count since inception to over 625. The firm has transferred approximately 3,000 interests, demonstrating substantial operational scale and market penetration. Kline Hill's capabilities span LP fund transfers, GP-led and secondary direct transactions across private equity, venture capital, growth equity, and other private capital strategies.
The firm operates from three primary locations: its headquarters in Greenwich; an office in Zurich; and an office in the Philippines. This geographic footprint positions Kline Hill to serve institutional capital across multiple regions. TA Associates' investment will provide strategic support for scaling Kline Hill's specialized operations, leveraging TA's extensive experience in asset and wealth management to accelerate growth and enhance investment capabilities in the secondaries market.
The investment represents a significant validation of Kline Hill's specialized strategy in the small-deal secondaries market. Michael Bego, Managing Partner and Founder of Kline Hill, characterized the partnership as "an exciting new chapter" for the firm, emphasizing TA's endorsement of Kline Hill's strategy, team, and growth trajectory. According to Bego, the partnership will support Kline Hill's continued expansion at scale while building out its technology platform and deepening investment expertise. Priya Karkar, Head of Investor Relations at Kline Hill, noted that TA's focus on returns for investors and long-term, sustainable growth aligned with the firm's values.
Kline Hill, founded in 2015, has established itself as a leader in the niche secondaries segment, particularly in underserved subsectors such as smaller LP and GP-led transactions. The firm currently manages over $5.4 billion in assets under management across five fund series, with a diverse investor base encompassing endowments, foundations, family offices, and other institutional investors. In 2024 alone, Kline Hill closed or signed more than 160 deals, bringing its total deal count since inception to over 625. The firm has transferred approximately 3,000 interests, demonstrating substantial operational scale and market penetration. Kline Hill's capabilities span LP fund transfers, GP-led and secondary direct transactions across private equity, venture capital, growth equity, and other private capital strategies.
The firm operates from three primary locations: its headquarters in Greenwich; an office in Zurich; and an office in the Philippines. This geographic footprint positions Kline Hill to serve institutional capital across multiple regions. TA Associates' investment will provide strategic support for scaling Kline Hill's specialized operations, leveraging TA's extensive experience in asset and wealth management to accelerate growth and enhance investment capabilities in the secondaries market.
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.