Piper Sandler Continues to Strengthen Private Capital Advisory with Addition of Tim Light as Managing Director of Secondary Capital Advisory

Key Terms

secondary transactions financial

Sales or trades of already-issued shares or stakes between investors rather than new shares created by the company; think of it like selling a used car between private buyers instead of buying a brand-new model from the dealer. These transactions create liquidity and price signals for holders, can change who controls or influences a company, and help investors value shares when primary fundraising is not involved.

gp-led continuation vehicles financial

A GP-led continuation vehicle is a new investment vehicle organized by a private equity fund’s general partner to buy and hold one or more assets from an existing fund, often to extend the ownership period or offer liquidity options. Think of it like moving a house out of a shared rental and into a new ownership arrangement: it affects investors by changing when they can get cash, how the assets are valued, and who controls future decisions, highlighting potential liquidity and alignment issues.

limited partners financial

Limited partners are investors who provide most of the capital to an investment partnership but do not run its day-to-day business; they have liability only up to the amount they invested. Think of them as silent backers who hire a manager to make decisions and share in profits or losses; their importance to investors lies in shaping how much money a fund can deploy, the risk and return profile they receive, and the liquidity and fees associated with that investment.

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NEW YORK--(BUSINESS WIRE)-- Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Tim Light as managing director of secondary capital advisory within the private capital advisory group. Based in New York, Light will advise private equity sponsors and institutional investors across a broad range of secondary transactions, including GP-led continuation vehicles and other strategic liquidity solutions.

“Tim brings deep experience advising clients across the secondary market and a strong understanding of today’s evolving private capital landscape. As demand for tailored liquidity solutions continues to grow, his addition further strengthens our secondary advisory capabilities and positions us well to support the evolving needs of sponsors and investors,” said Ryan Schlitt, global head of private capital advisory at Piper Sandler.

“I’m thrilled to join Piper Sandler private capital advisory and look forward to working alongside the team as we continue to build on the momentum of the business. The firm’s deep client relationships, integrated private capital advisory platform and collaborative culture provide a strong foundation to help clients achieve their strategic objectives,” said Light.

Light brings over a decade of experience in private capital markets, with a focus on advising general partners, limited partners and institutional investors on complex secondary transactions. He joins the firm from Guggenheim, where he was a managing director and played a key role in the founding and growth of the firm’s secondary advisory practice. Previously, he was a director at Sixpoint Partners and principal at Greenhill Cogent where he began his career. He has previously worked closely with multiple members of the team, bringing established relationships and familiarity with the team’s approach to client service and execution. Light received a bachelor’s degree from Duke University.

ABOUT PIPER SANDLER

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; in the EU through Aviditi Capital Advisors Europe GmbH, a tied agent of AHP Capital Management GmbH, authorized and regulated by BaFin; in the Abu Dhabi Global Market through Piper Sandler MENA Ltd., authorized and regulated by the ADGM Financial Services Regulatory Authority. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.

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Nick Lawler
Tel: 212 891-8954
nick.lawler@psc.com

Source: Piper Sandler Companies