Private Markets
Secondary Market Investments
Access shares in high-growth private companies before they list by acquiring holdings from existing shareholders — with rigorous due diligence and performance-based fees.
In Short
Secondary market investments let you buy shares in established private companies from existing investors or employees, rather than waiting for a new funding round or an IPO. Glen Elgin provides Australian investors with vetted secondary opportunities, giving earlier liquidity to sellers and entry into proven businesses for buyers — with fees charged only when you profit.
What are secondary market investments?
A secondary market investment is the purchase of existing shares in a private company from a current shareholder — such as an early investor, founder or employee — rather than buying newly issued shares directly from the company. Because the business is already established, buyers can assess a real operating history, revenue trajectory and valuation before committing capital.
Secondaries have become a core part of modern private-market investing. They provide liquidity to shareholders who want to realise value before an IPO, while giving new investors a route into companies that are often years into their growth story. Glen Elgin sources, screens and structures these opportunities on behalf of Australian investors.
Benefits of investing in the secondary market
Proven businesses
Invest in companies with established revenue, customers and management — reducing the uncertainty of very early-stage backing.
Potential entry discount
Motivated sellers seeking liquidity can create attractive entry pricing relative to the last primary round.
Shorter time horizon
Secondaries are typically later-stage, so the path to a liquidity event such as an IPO can be shorter than early venture.
How the process works
Sourcing
Our senior team and funding partners identify secondary holdings in quality private companies through their private-market network.
Due diligence
Every opportunity undergoes rigorous research, financial analysis and multiple layers of review before it reaches clients.
Structuring & access
We structure the transaction and confirm eligibility, pricing and documentation.
Ongoing management
Your holding is tracked in the Glen Elgin platform alongside the rest of your portfolio.
Who secondary market investments suit
Secondary opportunities are generally suited to sophisticated and wholesale investors who understand private-market risk and can commit capital for a medium-to-long term horizon.
- Investors seeking exposure to late-stage private companies before a public listing
- Those diversifying beyond listed stocks and shares
- Investors comfortable with illiquidity in exchange for growth potential
Risks to consider
- Illiquidity — private shares cannot be sold as easily as listed securities
- Valuation risk — secondary pricing depends on information available at the time of purchase
- Company-specific risk — private businesses can underperform or fail to reach a liquidity event
- Timing risk — an anticipated IPO or trade sale may be delayed or may not occur
Related Investments & Resources
Private Markets
Frequently Asked Questions
What is a secondary market investment?
It is the purchase of existing private-company shares from a current shareholder — such as an early investor or employee — rather than buying newly issued shares from the company itself.
How is a secondary different from a pre-IPO investment?
Pre-IPO investing usually involves a company's own capital raising ahead of listing, while a secondary transfers shares that already exist from one holder to another. Both can provide pre-listing exposure.
Who can invest in secondary opportunities with Glen Elgin?
Secondary opportunities are typically suited to sophisticated and wholesale investors. Contact Glen Elgin to review eligibility and current availability.
How does Glen Elgin select secondary opportunities?
Every opportunity undergoes rigorous research, due diligence and multiple layers of analysis before it is offered to clients.
Are secondary investments liquid?
No. Private shares are generally illiquid and should be considered a medium-to-long-term commitment until a liquidity event such as an IPO or trade sale.
What fees does Glen Elgin charge?
Glen Elgin uses a performance-based fee model — you only pay a fee when your investment delivers a profit, aligning our success with yours.
Can I track my secondary investment online?
Yes. All holdings are visible within your Glen Elgin platform account alongside performance and documentation.
What are the main risks?
Key risks include illiquidity, valuation uncertainty, company-specific performance risk and the possibility that an expected liquidity event is delayed or does not occur.
Explore Secondary Market Opportunities
Speak with our team about accessing vetted secondary holdings in high-growth private companies as part of a diversified portfolio.
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