Tangible
Advisory and Custom Liquidity Solutions/1.4 Feeder Funds and Tail-End Solutions

Create liquidity around feeder fund portfolios

Feeder structures can become increasingly complex as funds mature, investors seek liquidity and the remaining portfolio becomes more concentrated.

Tangible helps sponsors assess the portfolio, determine the right liquidity route, aggregate fragmented positions and manage the process across investors, underlying GPs, buyers and administrators.

Two solutions

Liquidate the feeder, or offer a window

Tail-end feeder liquidationFeeder fundwound upLP stake in master fundsold toSecondary buyerTender offerSecondary buyerinvests inFeeder fundcontinuesLP stake in master fundAUM and custody maintainedVehicle wound down

Working with Tangible

The full spectrum of liquidity solutions

Tangible is a liquidity provider for the private markets ecosystem. We cater to positions with sizes ranging from <$1m to $500m+ and provide the full spectrum of liquidity solutions, from auctions for single lines and portfolio auctions and mosaic sales to NAV lending solutions and tail-end feeder liquidations.

For NAV lending and preferred equity solutions, we offer a white-glove capital markets team that works to deliver NAV loans for your current or future fund and obtain subscription lines and other lending products to improve returns, which allows LPs to obtain liquidity and retain the upside.

Tangible’s unique process narrows the bid-ask spread. This leads to a >90% success rate on our platform.