Key Takeaways
- • Houlihan Lokey announced the hiring of Bodo Krug von Nidda as Managing Director in its Capital Solutions Group to expand GP-led secondaries advisory capabilities in real estate, effective June 4, 2026.
- • Krug von Nidda joins from PJT Park Hill where he served as Managing Director in the real estate group, advising private equity real estate managers on primary fundraising and secondary transactions, bringing direct expertise in GP-led deal structures.
- • The hire reinforces Houlihan Lokey's strategic push to build out bespoke private capital solutions across its Equity Capital Solutions and Real Estate Capital Advisory platforms, positioning the firm to serve GPs navigating the secondary market.
- • GP-led secondaries have emerged as the fastest-growing segment of the secondary market, accounting for 80% of real estate secondaries transactions in 2022, driven by a slowing exit environment and GPs seeking liquidity and portfolio management solutions outside traditional LP transactions.
Summary
Houlihan Lokey expanded its real estate investment banking capabilities by appointing Bodo Krug von Nidda as Managing Director in the Capital Solutions Group on June 4, 2026. Based in New York, Krug von Nidda will focus on GP-led secondaries advisory, working across the firm's Equity Capital Solutions and Real Estate Capital Advisory divisions. This hire represents a targeted effort to strengthen the firm's competitive position in an increasingly important segment of the alternative asset secondary markets.
Krug von Nidda brings substantial credentials in real estate capital markets. Most recently, he was a Managing Director at PJT Park Hill's real estate group, where he advised private equity real estate managers on both primary fundraising and secondary transactions. Prior to that role, he served as Principal at Alpine Grove Partners, where he managed portfolio investments in real estate operating companies. This background positions him to advise general partners on the mechanics and strategic value of secondary market transactions.
The appointment aligns with broader industry trends favoring GP-led secondary structures. According to available market data, GP-led secondaries represent the fastest-growing segment of the overall secondaries market, accounting for 80% of real estate secondaries transactions as of 2022. These transactions appeal to investors through expanded operational flexibility compared to traditional LP-to-LP secondaries, and they address structural supply drivers including a slowing exit environment that has prompted GPs to seek alternative liquidity solutions and portfolio optimization strategies.
Gregg Newman, Global Co-Head of Capital Solutions at Houlihan Lokey, emphasized the strategic importance of the hire, noting confidence in the firm's ability to deliver "highly bespoke private capital solutions" to real estate clients globally. Matt Swain, Global Co-Head of Equity Capital Solutions, highlighted Krug von Nidda's client-centric approach and his role in expanding the firm's Secondaries practice. The addition reflects Houlihan Lokey's broader expansion into real estate advisory and capital solutions, positioning the investment bank to capture advisory mandates in an asset class experiencing sustained secondary market activity.
Krug von Nidda brings substantial credentials in real estate capital markets. Most recently, he was a Managing Director at PJT Park Hill's real estate group, where he advised private equity real estate managers on both primary fundraising and secondary transactions. Prior to that role, he served as Principal at Alpine Grove Partners, where he managed portfolio investments in real estate operating companies. This background positions him to advise general partners on the mechanics and strategic value of secondary market transactions.
The appointment aligns with broader industry trends favoring GP-led secondary structures. According to available market data, GP-led secondaries represent the fastest-growing segment of the overall secondaries market, accounting for 80% of real estate secondaries transactions as of 2022. These transactions appeal to investors through expanded operational flexibility compared to traditional LP-to-LP secondaries, and they address structural supply drivers including a slowing exit environment that has prompted GPs to seek alternative liquidity solutions and portfolio optimization strategies.
Gregg Newman, Global Co-Head of Capital Solutions at Houlihan Lokey, emphasized the strategic importance of the hire, noting confidence in the firm's ability to deliver "highly bespoke private capital solutions" to real estate clients globally. Matt Swain, Global Co-Head of Equity Capital Solutions, highlighted Krug von Nidda's client-centric approach and his role in expanding the firm's Secondaries practice. The addition reflects Houlihan Lokey's broader expansion into real estate advisory and capital solutions, positioning the investment bank to capture advisory mandates in an asset class experiencing sustained secondary market activity.
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