Former Top Tier secondaries chief Townsend joins fledgling secondary shop

Dan Townsend, former secondaries chief at Top Tier Capital Partners, joined a new shop launched by former AlpInvest Partners secondaries heavyweight Tjarko Hektor, who confirmed the hire.

Townsend recently joined the firm, called New 2ND Capital, as a partner, according to the firm’s website and Townsend’s LinkedIn profile. He joins Hektor and former AlpInvest executive Jordan Bradley at New 2ND Capital.

New 2ND Capital invests in middle-market companies through “complex” secondaries transactions like spin-outs or restructurings, the firm’s website says. The firm seeks transactions valued at $10 million to $150 million across all industries, for companies primarily located in North America.

Hektor formed New 2ND Capital after leaving AlpInvest last year. He joined AlpInvest in 2004 and rose to co-lead the secondary group.

Other executives at New 2ND Partners include former AlpInvest associate Clay Cole, who joined as a principal, and former HarbourVest Partners senior associate Victor Ko, also a principal.

Townsend worked at Top Tier for nine years leading secondary and co-investment programs. Prior to the fund-of-funds, he spent nine years at GE Asset Management, where he was responsible for building a portfolio of LP interests and co-investments.

Update: This story has been updated to include more information about New 2ND Capital’s strategy as well as official confirmation from Tjarko Hektor.

Action Item: New 2ND Capital’s website: http://www.new2ndcapital.com/

Buyouts archive photo of Dan Townsend