HIG Capital Builds Secondaries Capabilities with Morgan Stanley Team

HIG Capital has entered the rapidly growing secondaries market by recruiting four experienced professionals from Morgan Stanley’s private equity secondaries division to lead a new GP Solutions Platform.

Dan Wieder heads the initiative as Managing Director, joined by Managing Director Yash Gupta and Principals Austin Gerber and Joe Holleran. The team brings nearly five decades of combined experience in secondaries investing, positioning HIG Capital to capitalize on growing demand for alternative liquidity solutions.

The platform will focus on GP-led transactions and continuation vehicles, structures that allow private equity sponsors to retain ownership of portfolio companies while providing exit opportunities for existing limited partners. These transactions have gained momentum as traditional IPO and M&A markets face challenging conditions.

GP-led exits rose 19% in the first half of 2025, according to Jefferies data, reflecting increased reliance on alternative liquidity mechanisms. Major investment firms including Warburg Pincus and Leonard Green & Partners have developed similar secondaries capabilities to address institutional demand for flexible exit solutions.

“We believe our secondaries effort will be an exciting and scalable business over the coming years, which aligns seamlessly with our middle market, value-add investment strategy,” said Rick Rosen, Co-President of HIG Capital.

The expansion complements HIG Capital’s active deal pipeline across technology and media sectors. Recent strategic investments include the acquisition of Kantar Media and the merger of Converge Technology Solutions with Mainline Information Systems to form Pellera Technologies, generating approximately $4 billion in annual revenue.

HIG Capital also strengthened its Small-Cap & Growth division by adding Harrison B. Davis as Managing Director. Davis brings over 15 years of lower middle market experience, including previous roles as Partner and Co-Head of TZP Group’s Small-Cap strategy.

The Miami-based firm manages $70 billion across multiple investment strategies from 19 global offices. Since 1993, HIG Capital has invested in more than 400 companies, with current portfolio holdings generating combined revenues exceeding $53 billion. The firm’s expansion into secondaries represents a natural evolution of its comprehensive middle market approach.