Golub Capital Launches GP-Led Secondaries Strategy

Golub Capital today announced the launch of its GP-Led Secondaries investment strategy.

The new strategy will focus on investing in high-quality U.S. and European middle market businesses, primarily through GP-Led continuation vehicles (“CVs”).

The GP-Led strategy complements Golub Capital’s leading direct lending franchise and leverages its competitive advantages, including strong relationships with private equity firms, incumbencies with more than 650 borrowers and the expertise embedded in its 1100+ person team.

The strategy will expand Golub Capital’s existing equity co-investment program. Over the last 20 years, Golub Capital has made more than 400 equity co-investments in private equity transactions, investing over $1.7 billion and consistently outperforming industry benchmark returns.

The Firm announced that it is committing over $1 billion to the new GP-Led Secondaries strategy and that it plans to raise special-purpose funds to further expand this commitment.

Greg Cashman, Co-Head of the Firm’s Direct Lending business, will lead the GP-Led Secondaries team.

Commenting on the announcement, David Golub, President of Golub Capital said: “We see our GP-Led Secondaries business as a natural extension of our direct lending franchise. We have conviction we will be successful here due to the power of the Golub Capital platform, including strong relationships with private equity sponsors, a strong underwriting process, and deep industry expertise.”

About Golub Capital

Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

As of July 1, 2025, Golub Capital had over 1,000 employees and over $80 billion of capital under management, a gross measure of invested capital including leverage. The firm has offices in North America, Europe, Asia and the Middle East. For more information, please visit golubcapital.com.

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