New 2nd Capital
Private equityNew York
Investment thesis
New 2ND Capital focuses exclusively on middle-market and lower-middle-market GP-led secondaries in the US. The firm crafts flexible, highly customized partnerships to meet the liquidity, capital, and strategic needs of private equity general partners, independent sponsors, financial institutions, family offices, and other investors. Its solutions help managers generate liquidity, realign fund duration, secure growth capital, or rebalance middle-market portfolios. Transactions range from $10M to $500M, and the firm emphasizes value creation for underlying portfolio companies while positioning itself as an ongoing partner to GPs beyond the initial deal. It seeks full alignment with GPs through tailored arrangements.
Source: firm website, verified Aug 6, 2026.
Fund performance · per public LP disclosures · 3
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| New 2ND Capital Fund IIILPs: New York City Employees' Retirement System, New York City Police Pension Fund, Teachers' Retirement System of the City of New York +1 more | 2023 | — | 15.6% | 1.20x | 0.06x |
| New 2ND Capital N SidecarLPs: New York City Employees' Retirement System, New York City Police Pension Fund, Teachers' Retirement System of the City of New York | 2023 | — | 14.5% | 1.20x | 0.07x |
| NEW 2ND CAPITAL FD III CO INVLPs: New York City Board of Education Retirement System | — | — | — | 1.19x | — |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What is New 2nd Capital's typical check size?
- New 2nd Capital typically writes checks of $10M – $500M.
- What sectors does New 2nd Capital focus on?
- New 2nd Capital focuses on Sector Agnostic.
- Where is New 2nd Capital located?
- New 2nd Capital is headquartered in New York, US.
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