A&M Capital Secondaries

A&M Capital Secondaries (“AMCS”) is a dedicated middle-market secondaries investment strategy focused on partnering with private equity firms through single-asset and multi-asset continuation vehicles (“CVs”) or acquiring existing limited partner stakes in private equity funds. AMCS leverages the experience of its deal making professionals, the A&M Capital platform, and its unique affiliation with A&M Consulting’s market-leading private equity services business to generate robust proprietary deal flow, differentiated due diligence capabilities, and value-added partnership. AMCS’s professionals have significant experience leading and co-leading CVs in partnership with a broad set of premier private equity funds, providing liquidity and tailored capital solutions to achieve attractive risk-adjusted returns.

Target Situations

We seek to invest in:

Middle market secondaries transactions involving CVs and/or LP Stakes, where AMCS believes it can leverage A&M Capital and its relationship with A&M Consulting, as appropriate, in order to provide a competitive advantage through: (i) deal sourcing, (ii) enhanced due diligence and risk underwriting evaluation, and (iii) portfolio company value creation capabilities related to performance improvement

Ability to lead or co-lead CV transactions; or be a meaningful minority investor

Focus on high quality established assets, growth at reasonable cost, and relative value oriented

Opportunistic growth equity CV investments

Investment Approach

We seek to:

Employ an asset-first investment philosophy with a focus on underlying business fundamentals and industry sector quality

Underwrite complex situations and business models

Partner with premier private equity firms in their core areas of expertise

Provide quick and reliable feedback to our private equity partners and operate with transparency and professionalism

Investment Criteria

Target
Investment Size

Initial Equity Checks: $25M-75M

Target
Enterprise Value

$100 – $500M

Target
EBITDA

$15M+ on underlying companies

Target Industries

Business Services

IT Services

Healthcare Services

Government Services

Specialty Industrial

Industrial Services & Distribution

Consumer Services

Opportunistic where partnering GPs have sector expertise

Transaction Types

Single Asset GP-led CVs

Multiple Asset GP-led CVs

Opportunistic LP Stakes

Region

North America & Western Europe

Growing Operational Scale
and Efficiency