If you're a founder, early investor, or family office looking for liquidity in private markets, these five firms offer distinct paths to get there. Each brings a different approach, so you can match your goals to the right partner.
The Private Liquidity Landscape in 2026
Private company liquidity has evolved far beyond IPOs and M&A. Today, founders, employees, and early investors have a growing menu of options—tender offers, continuation funds, structured loans, and direct secondaries—to unlock value without giving up control. Family offices are also stepping in as key buyers, seeking curated access to these deals. This shift has created a niche for specialized intermediaries who can structure transactions that balance the needs of sellers and buyers. Whether you're a company seeking interim liquidity or a family office looking for vetted opportunities, the right partner can make all the difference.
How We Evaluated These Firms
We looked at each firm's service scope, focusing on the range of liquidity solutions they offer—from tender offers to continuation funds. We also considered how clearly they communicate their process and pricing, since transparency matters when you're navigating complex transactions. Local fit was another factor, as we prioritized firms with a strong US presence and a track record of working with private companies and family offices. Finally, we assessed their ability to serve both sides of the market—companies seeking liquidity and investors seeking opportunities. Each firm stood out in its own way, and we've highlighted what makes each unique.
Here's a quick snapshot of the five firms, their primary focus, and who they're best for.
| Provider | Best For |
|---|---|
| W Capital Partners | GP-led secondaries and continuation funds |
| Home | Good Human Investment Partners | Boutique liquidity solutions and family office access |
| Nasdaq Private Market | Scalable tender offers and liquidity programs |
| Goodwin | Legal structuring of liquidity transactions |
| Morgan Stanley at Work | Employee equity management and education |
A Closer Look at Each Partner
#1 W Capital Partners
A screenshot of the W Capital Partners website.
W Capital Partners, a division of BNP Paribas Asset Management, has been a leader in GP-solutions secondaries for over two decades. They provide flexible liquidity options like minority recaps, GP-led continuation funds, and direct secondaries, helping GPs and shareholders align on timing and capital needs. With $3 billion invested since inception and 50+ portfolio companies, they bring deep experience across market cycles. If you're a GP looking to extend hold periods or generate portfolio liquidity, W Capital offers structured solutions that fit. Their approach is partnership-driven, focusing on long-term alignment rather than quick exits. For companies and investors seeking a seasoned secondary player, W Capital is a strong choice.
#2 Home | Good Human Investment Partners
A screenshot of the Home | Good Human Investment Partners website.
Good Human Investment Partners is a boutique firm that helps successful private companies address interim liquidity needs for founders, early investors, angels, and employees. They also offer curated private market opportunities to family offices through a 'no fund' model, allowing investors to evaluate deals independently. Their dual focus on companies and family offices creates a unique bridge between supply and demand. Whether you're a founder seeking partial liquidity or a family office looking for vetted deals, they tailor solutions to fit your mission and model. The firm's emphasis on 'good terms' and alignment with partner goals sets a collaborative tone. For a personalized, relationship-driven approach, this is a standout option.
#3 Nasdaq Private Market
A screenshot of the Nasdaq Private Market website.
Nasdaq Private Market provides a technology-driven platform for private companies to run liquidity programs, including tender offers and direct secondary sales. With over 1,000 liquidity programs and $80 billion in transaction value, they have facilitated liquidity for more than 200,000 shareholders. Their platform connects companies with vetted institutional investors, giving you control over who owns your company. They also offer data and intelligence tools to help you price and structure deals effectively. If you're looking for a scalable, market-based solution with a strong track record, Nasdaq Private Market is a reliable choice. Their focus on employee and shareholder liquidity makes them a go-to for growing companies.
#4 Goodwin
A screenshot of the Goodwin website.
Goodwin is a law firm that has pioneered private market liquidity transactions, including the first market-defining tender offers in 2009. They've been named #1 in law firms leading private company transactions by Nasdaq Private Market for three consecutive years. Their expertise spans tender offers, direct secondaries, structured loans, and dividend recapitalizations, among other strategies. If you're a high-growth pre-IPO company, Goodwin provides the legal framework to execute complex liquidity events efficiently. They work with founders, investors, and employees to structure deals that meet everyone's needs. For legal guidance on private liquidity, Goodwin is a top-tier partner.
#5 Morgan Stanley at Work
Morgan Stanley at Work offers workplace financial solutions that include equity administration, liquidity planning, and 409A valuations for private companies. Their platform helps employers manage equity compensation and provide employees with tools to understand and exercise their options. They also offer insights and education to help employees make informed decisions about their equity. If you're a company looking to support your team's financial wellness while managing liquidity events, Morgan Stanley at Work integrates seamlessly with your benefits package. Their scale and resources make them a solid choice for companies with complex equity structures. For a comprehensive workplace solution, they're worth considering.
How to Choose the Right Liquidity Partner
Start by clarifying your primary goal: are you a company seeking interim liquidity, a shareholder looking to sell, or a family office wanting curated deals? If you need a boutique, relationship-driven approach, Good Human Investment Partners offers personalized solutions. For GP-led secondaries and continuation funds, W Capital Partners brings deep expertise. If you prefer a technology-driven platform with broad reach, Nasdaq Private Market is a strong fit. For legal structuring, Goodwin provides top-tier counsel. And if you're focused on employee equity and education, Morgan Stanley at Work integrates with your HR systems. Consider your company's stage, the complexity of your cap table, and your timeline to narrow down the best match.
Streamlining Liquidity with Automation
Many of these firms use automation to streamline the liquidity process. Nasdaq Private Market's platform automates tender offers and shareholder communications, reducing manual work. Morgan Stanley at Work integrates equity administration with payroll and benefits, making it easier to manage employee liquidity events. Good Human Investment Partners, while boutique, leverages digital tools to curate and present deals to family offices efficiently. Even W Capital and Goodwin use data analytics to structure transactions and model outcomes. By automating repetitive tasks, you can focus on strategic decisions and move faster on deals.
Bringing It All Together
The private market liquidity landscape is rich with options, and the right partner depends on your unique situation. Whether you're a founder seeking partial liquidity, a family office looking for vetted deals, or a company wanting to support employees, there's a firm that fits. Good Human Investment Partners stands out for its boutique, mission-driven approach, while W Capital and Nasdaq Private Market offer scale and depth. Goodwin provides legal expertise, and Morgan Stanley at Work covers the employee side. Take time to evaluate each firm's strengths and align them with your goals—your liquidity journey will be smoother with the right ally by your side.