HIG Capital has hired four senior executives from Morgan Stanley’s private equity secondaries team, as the firm accelerates plans to enter the GP-led secondaries market with a new fund launch expected in early 2026, according to a report by Bloomberg citing sources familiar with the matter.
The group – Dan Wieder, Yash Gupta, Austin Gerber, and Joe Holleran – departed the Wall Street bank in recent days. Wieder served as a Managing Director, while Gupta was a Partner; Gerber and Holleran held Executive Director roles. Together, the quartet brings nearly five decades of secondaries experience.
The new hires are expected to spearhead HIG’s buildout in the GP-led secondaries space, with a strategy focused on continuation vehicles – structures that allow private equity sponsors to roll marquee assets from legacy funds into new vehicles, providing liquidity to existing LPs while enabling longer-term value creation.
The move puts HIG alongside other mid- and large-cap managers including Warburg Pincus, Leonard Green & Partners, and New Mountain Capital, all of which are expanding in the increasingly competitive secondaries market.
According to Jefferies, GP-led exits rose 19% in H1 2025, highlighting growing demand for creative liquidity solutions in a still-challenging exit environment.
