Houlihan Lokey Bolsters Equity Capital Solutions Capabilities With Senior Hire

Key Terms

gp-led secondaries financial

GP-led secondaries are transactions where the fund manager (the general partner) organizes a sale or transfer of existing private investments—often into a new vehicle—to give current investors a way to cash out or extend holdings. For investors, this matters because it provides an opportunity for liquidity or a revised holding period, but can also change fees, valuations and incentives; think of it like a landlord offering tenants a buyout or a lease extension under new terms.

lp-led secondaries financial

LP-led secondaries are transactions where limited partners (the investors in a private fund) initiate and arrange the sale or transfer of their existing fund stakes or a portfolio of assets to new buyers, often creating a tailored vehicle that can keep the original manager involved. Think of it like a group of homeowners selling their houses to new owners while the neighborhood association stays the same; the deal provides liquidity to the selling investors and can reshape who owns and benefits from those assets. This matters to market participants because LP-led secondaries can affect fund valuations, future fee and carry dynamics, and the timing and certainty of returns for both sellers and new buyers.

real assets financial

Real assets are physical, tangible things of value such as land, buildings, infrastructure, natural resources and commodities. For investors they matter because, unlike a promise on paper, these assets often produce steady cash flow (rent, tolls, commodity sales), tend to hold value when prices rise broadly, and act like a ballast in a portfolio—similar to owning a house rather than a bank balance when you want something that still has use and resale value.

secondaries market financial

A secondaries market is where investors buy and sell existing securities after their initial offering, such as shares, bonds, or stakes in private companies, rather than purchasing them directly from the issuer. It matters to investors because it creates liquidity and price discovery—like a resale market for used goods, it lets holders convert assets to cash and lets new buyers acquire positions without relying on the original issuer.

portfolio construction financial

Portfolio construction is the process of choosing and combining different investments—such as stocks, bonds, cash, or alternatives—so they work together to meet an investor’s goals while controlling risk. Like assembling a balanced meal or toolkit, it decides how much to put in each category and when to adjust those weights, which directly affects potential returns, ups-and-downs in value, and the likelihood of meeting objectives over time.

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Dan Buffery Joins as a Managing Director

NEW YORK--(BUSINESS WIRE)-- Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Dan Buffery has joined the firm’s Capital Solutions Group as a Managing Director. Mr. Buffery is based in New York and will help lead the firm’s North American GP-led secondaries advisory practice within Equity Capital Solutions.

Mr. Buffery joins the firm following nearly 10 years at HarbourVest Partners, where he most recently served as a Managing Director in its Infrastructure and Real Assets Group. While there, he was a senior investment professional and was responsible for leading GP- and LP-led secondaries investments. He was a voting member of the Real Assets Investment Committee and served as the Portfolio Manager for the HarbourVest Infrastructure Income Partnership. Prior to HarbourVest Partners, Mr. Buffery spent 10 years at OPTrust, where he was a Director in the Private Equity and Infrastructure Group.

“Dan’s deep transaction expertise and long-standing leadership in infrastructure and real assets make him an outstanding addition to our team,” said Gregg Newman, Managing Director and Global Co-Head of Houlihan Lokey’s Capital Solutions Group. “As secondary market activity continues to accelerate, bringing on high-caliber talent like Dan ensures we remain at the forefront of delivering world-class, tailored solutions for our clients and demonstrates Houlihan Lokey’s ability to attract top-tier talent to the platform.”

“Houlihan Lokey’s collaborative culture and dedication to its clients are a great match with my own long-standing ‘client-first’ philosophy,” said Mr. Buffery. “I am excited to collaborate across the firm to deliver solutions our clients require.”

“The secondaries market has experienced explosive growth over the past several years, driven by investors seeking identifiable assets to optimize portfolio construction and generate strong returns. Having known and worked with Dan for many years, I have no doubt that he will be invaluable to our clients as they take advantage of this growing and increasingly institutional market, and we are delighted that he has joined the team,” said Matt Swain, Houlihan Lokey’s Global Co-Head of Equity Capital Solutions.

Houlihan Lokey’s Capital Solutions Group comprises more than 200 dedicated professionals across 18 offices in eight countries, including Atlanta, Boston, Chicago, Dallas, Dubai, Frankfurt, Houston, London, Los Angeles, Madrid, Manchester, Miami, Milan, Munich, New York, Paris, San Francisco, and Zurich. In the past 12 months, the group raised and advised on over $38 billion across more than 140 transactions.*

*As of March 31, 2026.

About Houlihan Lokey

Houlihan Lokey, Inc. (NYSE:HLI) is a leading global investment bank recognized for delivering independent strategic and financial advice to corporations, financial sponsors, and governments. With uniquely deep industry expertise, broad international reach, and a partnership approach rooted in trust, the firm provides innovative, integrated solutions across mergers and acquisitions, capital solutions, financial restructuring, and financial and valuation advisory. Our unmatched transaction volumes provide differentiated, data-driven perspectives that help our clients achieve their most critical goals. To learn more about Houlihan Lokey, please visit HL.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260709130554/en/

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Source: Houlihan Lokey, Inc.