A&O Shearman has hired Gabriel Boghossian and Sarah de Ste Croix as Global Co-Heads of Secondaries, along with their full London-based team, expanding the firm’s private capital platform.
The additions give A&O Shearman a dedicated team spanning a broad range of secondaries transactions as the market continues growing in size and complexity.
Boghossian and de Ste Croix advise across continuation vehicles, limited partner portfolio transactions, GP stakes and other liquidity solutions.
Their team will become part of an A&O Shearman private capital operation that includes more than 200 partners working with clients across the U.S., U.K., EMEA and Asia-Pacific.
A&O Shearman said the additions establish it as one of only three firms in the industry holding a Band 1 ranking for secondaries transactions.
The firm sees secondaries as an increasingly important component of private capital, particularly as fund managers evaluate alternatives to traditional exits and investors seek liquidity from existing holdings.
GP-led secondaries have become a significant source of capital for sponsors seeking to retain assets while providing existing investors with liquidity options.
Continuation vehicles have been a major part of that growth, allowing private equity firms to move assets from older funds into newly capitalized vehicles backed by existing and new investors.
The additions are also intended to strengthen A&O Shearman’s ability to advise clients on transactions spanning multiple asset classes and jurisdictions through its international platform.
KEY QUOTES:
“These appointments are a transformative step for our private equity and wider private capital platform. GP led secondaries have evolved from a niche product into a permanent, multi-billion-dollar capital channel in private markets, routinely considered by fund managers when considering possible exits for an asset, and we are delighted that Gabriel and Sarah are joining us.”
Peter Banks, Global Co-Head of Private Equity at A&O Shearman
“This is an exciting moment for our firm. Our clients have told us that they need market leading secondaries capability. We listened. And with that, we are absolutely delighted to combine forces with Gabriel and Sarah and their team. Attracting a team of this caliber is a strong endorsement of our strategy and of the platform we have built. Together we are exceptionally well placed to help clients navigate the increasingly sophisticated global secondaries market and to capture new opportunities.”
Denise Gibson, U.K. Managing Partner at A&O Shearman
“We are excited to bring the team to A&O Shearman and see a huge opportunity to build the next generation of secondaries offering, one with truly global reach. We are taking an established market leading outfit and giving it unparalleled scale and opportunity across all asset classes and jurisdictions.”
Sarah de Ste Croix, Incoming Global Co-Head of Secondaries at A&O Shearman
“This is a strategic bet on the growth of our market. Our clients require deep sector expertise and significant geographic coverage and joining A&O Shearman puts our team at the forefront of global secondaries transactions. This is the next chapter in the development of our team – business as usual, but with significantly more firepower and reach.”
Gabriel Boghossian, Incoming Global Co-Head of Secondaries at A&O Shearman
