Advisory and Custom Liquidity Solutions/1.1 LP-Led Advisory

Use liquidity as an active portfolio management tool

Our team combines portfolio analysis, real-time market intelligence and institutional execution to help investors actively reshape private market exposure.

Why LPs sell

LPs seek exits for a variety of reasons

So how do LPs manage this process efficiently while maximising outcomes?

01Reduce the number of GP relationships, jettison legacy portfolios and positions, or transition alternatives held with a wealth manager when changing banks
02The denominator effect
03Tail-end clean-up — rather than extending the life of a fund nearing its end, sell the tail-end portfolio on the secondary market. This accelerates DPI and may increase IRR.
04Active portfolio management — reduce or increase exposure to specific vintage years, asset classes, or geographies, and generate alpha due to higher demand and better pricing for a position they were not thinking about selling
05Accidental alternatives and over-exposure to trending themes — commitments to managers that are often small, where the investment did not pan out, and unintended over-exposure to areas such as venture and growth from the zero-interest-rate era
06Locking-in value — in pre-IPO names where post-IPO prices may be too volatile, or in pre-AI companies where marks may suffer from market sentiment and secondary pricing may erode further

Market context

Active portfolio management is growing

LPs, including pensions, endowments, foundations, Funds of Funds and family offices, who consider themselves active managers of their own stakes, should be monitoring secondary market pricing: selling where market NAV is higher than their internal marks, and buying where a preferred GP looks mispriced or dislocated. With the right technology they can also create wishlists of funds they would like to acquire on the secondary market.

Seasoned primaries are another potential opportunity with the right partner, as many LPs change their mind, and the market for buying late primaries is very small.

As liquidity options expand, having a clear plan for managing older or non-core positions is becoming more important.

Sell where market NAV is above internal marks; hold where it is not. Illustrative.

Why Tangible

Working with Tangible to improve your outcomes and efficiency

Tangible combines technology and deep private markets expertise to bring transparency, efficiency and simplicity to secondary transactions. We provide the tools to help the board gain a better understanding of the pros of the secondary market, and have over 200 already approved and vetted buyers, which speeds up transactions and reduces legal costs. Our proprietary technology — unique among secondary advisors — lets investors monitor market sentiment pricing and run rebalancing scenarios to help decide whether to sell or hold.

Searchable pricing database

We bring transparency to opaque markets with our searchable pricing database that combines industry benchmarking data with insights from our buyer network, to offer LPs market sentiment and pricing guidance for tens of thousands of funds. Available free forever, not just when LPs want to sell.

Rebalancing scenarios

Run on any fund, large or small, based on dynamic pricing information.

Quarterly auctions

Your deal gets maximum visibility. The objective is to find the optimal market-clearing price whether selling or buying into new opportunities.

One-way data sharing

LPs have access to data from buyers, but their data is kept secure.

Simplified closing

Every party works through one guided checklist — documents, KYC and transfer — in a single platform.

Monitor market sentiment

For private market investments, with transparency and clear reporting.

Product spotlight

Integrated Seller Dashboard

Track pricing and auctions in one place

Our seamless interface makes it easier to keep tabs on pricing and transaction status. We present the essential data you need in one streamlined dashboard.