TIFF Investment Management has strengthened its alternatives platform with the appointment of dedicated secondaries specialists Andrew Murray and Stephen Grau. The move formalizes and expands TIFF's private equity secondaries capabilities, reinforcing its strategy to capitalize on growing opportunities in the secondary market while delivering tailored liquidity solutions for institutional investors.
TIFF Investment Management has appointed Andrew Murray as Managing Director, Head of Secondary Investing, and Stephen Grau as Executive Director, Secondary Investing. Together, the two executives bring more than three decades of combined experience across private equity secondaries, advisory services, and investing, strengthening TIFF's ability to identify and execute attractive secondary investment opportunities.
Although TIFF has long participated in the secondaries market as part of its alternatives strategy, the addition of a dedicated leadership team formalizes the firm's investment approach in this segment. The expanded practice will pursue opportunities across traditional LP interests, GP-led transactions, continuation vehicles, co-investments, and other private equity investment structures.
TIFF's Secondaries team will primarily target transactions ranging from $2 million to $20 million, concentrating on smaller and more complex private equity deals where the firm believes it can generate differentiated value. Leveraging long-standing sponsor relationships and extensive lower-middle-market private equity experience, the firm aims to provide efficient execution and tailored liquidity solutions for investors and general partners alike.
The growing private equity secondary market offers investors greater flexibility in managing liquidity, portfolio pacing, and private market exposure. Through its dedicated secondaries platform, TIFF intends to provide institutional investors with responsive pricing, transparent execution, and long-term partnership while expanding access to alternative investment opportunities.
“Secondaries have become an increasingly important part of the private markets toolkit as investors look for more flexible ways to manage liquidity, pacing, and private equity exposure.” said Kane Brenan, Chief Executive Officer, TIFF
By establishing a dedicated secondaries practice, TIFF is positioning itself to capitalize on the continued growth of the private equity secondary market. The firm's expanded investment team enhances its ability to deliver specialized alternative investment solutions while supporting evolving liquidity needs across institutional private market investors.
TIFF Investment Management is an independent, employee-owned investment firm specializing in Outsourced Chief Investment Officer services and alternative investment strategies, including private equity, venture capital, and hedge funds. Founded in 1991, with more than $11 billion in assets under management, TIFF draws on decades of experience serving nonprofits, family offices, RIAs, and other sophisticated investors. As a certified B Corporation, TIFF embeds accountability, transparency, and sustainability into its operations and investment practices. TIFF combines nonprofit expertise with institutional-quality access, partnering with long-term investors to deliver sustainable growth and enduring results that can advance their long-term objectives.
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