Secondary Co‑Investments
in Private Portfolio Companies

AI first firm savings enables lower mutual-fund type fees

Cost effective
Annual fee
2.5%
Carry
0%
Shorter term
Term
5 yrs
Liquiditysemi-annually
5%

$40Bn platform provides low cost access to invest alongside top Institutions:

AlpInvest
TPG
Coller Capital
Lexington Partners
Bain Capital
Blackstone
Vista Equity Partners
Advent International
Goldman Sachs
KKR
Morgan Stanley
ICG
AlpInvest
TPG
Coller Capital
Lexington Partners
Bain Capital
Blackstone
Vista Equity Partners
Advent International
Goldman Sachs
KKR
Morgan Stanley
ICG

Firms shown are for illustrative purposes only; no representation is made regarding their involvement in any investment opportunity or that they endorse Leadview Capital. Marks are trademarks of their respective owners.

Traditional Layered Approach
 
Leadview Co-Invests Directly
Annual
2.5%
Carry
~20%
Term
10 yrs
Annual
2.5%
Carry
0%
Term
5 yrs
Feeders
Small tickets into large funds
50bps access fee
Bypasses layers & fees
One set of economics, not three
No feeder layer
PE Funds
Access to secondary assets
2.5% annual · ~20% carry
Technology reduces cost
Savings fund the fees, not headcount
2.5% annual · 0% carry
Secondary CV Units
Sponsor drives returns
Transactional fees
Originates ~$1.5Bn monthly
Across sponsors, sectors, regions
Single assets, underwritten
Invest
Feeder
Fund
Asset
Leadview invests in the same asset, at a lower cost.

Shorter 5 year Path to Liquidity

LVC acquires performing assets from PE funds via Continuation Vehicles (“CV”)

Initial ±7 years have negative returns while portfolio company invests to create value and a performing asset.

CV buys assets from PE funds in harvest mode, leveraging prior operational investment and value creation. Since asset is performing, CV realizes returns within five years.

There is no long investment periods. CV buys specific assets upon funding. CV has already identified, diligenced assets with established operating histories.

Investors have access to 5% semi-annually over the CV’s term, rather than waiting on a single exit at the end of a fund’s life.

Return by investment term
Return 3.0x 2.0x 1.0x 5 10 INVESTMENT TERM (YEARS) Traditional exit CV exit Illustrative only.