SAN FRANCISCO, Jan. 31, 2019 /PRNewswire/ — Liquid Stock (“Liquid”) today announced the launch of a fully independent, institutionally backed firm providing liquidity to employees and stockholders of privately held companies. This strategy will align the interests of employees and shareholders by converting option holders into owners, providing companies with an alternative to tender offers and offering employees and shareholders full value for their stock. Liquid’s team brings together a multi-disciplinary approach of leaders in liquidity solutions, venture capital and private equity investing, to provide liquidity to individual counterparties. Liquid is well-positioned to become the leading source of capital for private companies looking to provide liquidity to their employees through tax efficient, company-wide share purchase programs.
Funds managed by Goldman Sachs Asset Management, Morgan Stanley AIP and Coller Capital have entered into a strategic relationship with Liquid, making substantial capital commitments to Liquid’s fund.
Robert Pitti, Founding Partner of Liquid commented, “Our team brings a long history with a strong track record of collaboratively solving the challenges faced by private companies and their employees, as well as a strong understanding of their businesses. Our strategic investors provide Liquid the ability to scale immediately to meet the needs of even the largest private companies, as well as a deep understanding of the global markets.”
Harold Hope, Managing Director and Global Head of Goldman Sachs Asset Management’s Vintage Funds commented, “Liquid’s depth of experience, diversity of skills and quality of team uniquely positions them as the liquidity provider of choice for employees and stockholders of privately held companies. As venture-backed companies are staying private for longer, we believe the Liquid offering provides an important liquidity tool for these stakeholders.”
Jeremy Coller, Chief Investment Officer of Coller Capital, said, “This is an innovative product that enhances liquidity options for those who work and invest in privately held businesses. We’re pleased to be partnering with Liquid in this exciting development.”
About Liquid Stock
Liquid Stock, headquartered in San Francisco and Los Angeles, is a fully independent, institutionally backed firm, providing liquidity to employees and stockholders of privately held companies. Liquid intends to become the leading source of liquidity for employees and investors holding valuable, illiquid assets, and for companies looking to address their employees’ liquidity needs through tax efficient share purchase programs. More information about Liquid can be found at www.liquidstock.com.
About Goldman Sachs Asset Management’s Vintage Funds
The Vintage Funds invest in the secondary market for private equity, providing liquidity, capital and partnering solutions to private market investors and managers globally. With over $28 billion in committed capital, the Vintage Funds have been innovators in the secondary market for over 20 years. The Vintage Funds are managed by the Alternative Investments & Manager Selection (“AIMS”) Group within Goldman Sachs Asset Management. The AIMS Group provides investors with open architecture investment and advisory solutions across hedge fund, private equity, real estate, public equity, fixed income and environmental, social, governance and impact-focused investment strategies. For more information, visit: www.gsam.com.
About Morgan Stanley AIP
The AIP Hedge Fund Team, an investment unit within Morgan Stanley Investment Management, was established in 2000. Working with a global investor base, the team delivers a range of custom solutions and commingled funds, as well as advisory services and access to co-investments, secondaries and risk premia. AIP had approximately $23 billion in assets under management and advisement as of September 30, 2018. For further information, please visit www.msim.com.
About Coller Capital
Coller Capital, a leader in private equity ‘secondaries’, acquires portfolios of positions in private equity funds and unquoted companies from their original owners – investing up to $1 billion or more in individual transactions. Founded in 1990, the firm is headquartered in London, and has offices in New York and Hong Kong. Coller’s multinational investment team – the world’s largest dedicated to secondaries – has a truly global reach. In December 2015, the firm closed Coller International Partners VII, with capital commitments of $7.15 billion and backing from approximately 170 of the world’s leading institutional investors.