Liquidity &Secondaries OS forLPs & Family OfficesGPs & SponsorsSecondary FundsLPs & Family Offices
Ardour Secondaries sits between LPs, GPs, and secondary funds—turning fragmented, one-off transactions into a continuous, data-driven liquidity engine.
Trusted by leading institutions
What is Ardour Secondaries?
One OS for Every Side of the Secondary Trade
Ardour Secondaries replaces scattered spreadsheets, VDRs, and email chains with a shared operating system for private markets liquidity.
LPs and GPs use Ardour to understand where liquidity should come from and how to structure it. Secondary funds use Ardour to see the right opportunities at the right time, fully contextualized and ready to underwrite.
Liquidity Engine for LPs & GPs
Upload portfolios, run diagnostics, and design secondary/NAV solutions before you ever call a banker.
Sourcing & Relationship OS for Secondary Funds
Get a live feed of mandates and deals that match your mandate, and run IOIs, bids, and notes in one place.
Shared Deal Objects, Not Spreadsheets
Everyone works off the same scenarios and assumptions—no more 20 versions of the same Excel file.
Platform Capabilities
What Our Customers Get
A comprehensive suite of tools designed for institutional-grade private markets liquidity operations.
Portfolio Liquidity Diagnostics
Turn quarterly Excel reviews into a real-time liquidity cockpit.
- Ingest fund reports, capital account statements, and deal docs.
- Score positions by liquidity need, concentration, performance, and time-to-exit.
- Surface "top candidates" for LP-led sales, GP-led CVs, NAV loans, or pref equity.
NAV & Structuring Scenario Engine
See the full impact of every structure before you run it.
- Compare straight sales, strip sales, CVs, NAV loans, and pref equity side-by-side.
- Model DPI, IRR, residual NAV, and alignment metrics for each option.
- Run scenarios at the fund, strip, or portfolio level.
Buyer & Relationship OS
Make every interaction with secondaries and allocators intentional.
- Map buyers by strategy, ticket size, geography, and structure appetite.
- Generate targeted buyer lists from each liquidity scenario.
- Track IOIs, bids, NDAs, and relationship notes in one place.
Execution & Governance
Bring structure to the messy parts of deals.
- Centralize consents, ROFRs, LPAC materials, and election workflows.
- Power closing checklists, e-sign flows, and settlement instructions.
- Tie every deal back to realized DPI/NAV uplift.
Built for Every Side of Secondaries
Built for LPs, GPs, and Secondary Funds
LPs & Family Offices
Liquidity & Portfolio-Shaping Engine
- Diagnose over-allocations, aging tails, and concentration risk across your whole book.
- Design and compare LP-led portfolio sales, strips, and tail clean-ups.
- Evaluate NAV loans and pref structures alongside plain-vanilla sales.
- Set buy-side mandates to selectively buy into secondaries that improve your portfolio.
GPs & Sponsors
GP-Led, NAV & Tender OS
- Identify assets that fit a GP-led CV or strip, with built-in conflicts & alignment metrics.
- Model roll-over, fee resets, and new-money economics for existing and new LPs.
- Run employee/founder tender offers with clean ROFR / consent orchestration.
- Compare selling assets vs NAV lines vs CVs in one scenario engine.
Secondary Funds
Sourcing & Relationship OS
- Configure mandates by ticket size, strategy, sector, and deal type.
- Get a curated feed of LP/GP-driven opportunities that match your mandate.
- Manage IOIs, bids, win/loss outcomes, and relationship notes in one pipeline.
- See how your bids change LP/GP DPI, alignment, and liquidity outcomes.
The Ardour Secondaries Platform
Six Powerful Modules
How Ardour Secondaries Works
The Liquidity Stack
Discover – Ingest Portfolio Data
Connect fund admin files, capital account statements, and reporting PDFs—or load our demo portfolio. Ardour auto-maps funds, SPVs, companies, vintages, and exposures.
Diagnose – Liquidity & Concentration Diagnostics
Score each position by liquidity need, concentration, performance, and time-to-exit. See aging tails, NAV in over-weight sectors, and projected liquidity shortfalls under multiple scenarios.
Design – NAV, Structuring & Scenario Engine
Turn candidates into side-by-side structures: LP-led portfolio sales, GP-led CVs, strip sales, NAV loans, and pref equity. Quantify DPI/IRR/residual NAV and alignment for each scenario.
Match – Targeted Buyer & Counterparty Workflow
From each scenario, generate curated lists of secondary funds and allocators by strategy and ticket size. For LPs/FOs, optionally define buy-side mandates and see inbound secondary opportunities.
Execute & Measure – Run the Process and Learn From It
Run consents, elections, and closing through Ardour's workflow. When deals close, Ardour updates your DPI, NAV, and liquidity metrics—closing the loop for the next cycle.
Results That Matter
Supercharge Your Liquidity Program
Reduction in time spent preparing secondaries and GP-led processes.
More structural options evaluated per transaction (LP-led, CV, NAV, pref, tender).
Increase in 'right-fit' secondary counterparties engaged per deal.
Of deal workflows completed without leaving Ardour (from scenario to closing).
Seamless Integration
Integrates With the Tools You Already Use
Bring your administrator files, CRMs, and data vendors under one roof—without ripping anything out.
Data & Research
Fund Admin & Portfolio
CRMs
Storage & VDR
Workflow & E-sign
Normalize and enrich your portfolio data with Ardour's ingestion engine.
Use existing VDRs for heavy diligence while keeping process tracking inside Ardour.
Keep your CRM as the system of record for relationships while Ardour becomes the system of record for secondary & liquidity workflows.
Enterprise Security
Enterprise-Grade Security, Private by Design
- Siloed environments per customer; no model training on your data.
- Optional customer-VPC or on-premise deployments for sensitive institutions.
- Full audit trails on every document, scenario change, and workflow action.
SOC 2 Type II
Enterprise-grade compliance
Data Encryption
AES-256 at rest and in transit
Audit Trails
Full activity logging
Private Deployment
Customer-VPC options
Ready to Turn Secondaries Into a Strategic Advantage?
See how Ardour Secondaries can help you diagnose liquidity, design smarter structures, and run cleaner processes—whether you're an LP, GP, or secondary fund.
Join leading institutions already using Ardour