A team of seasoned investors, institutional asset allocators, and data scientists announced the launch of Clipway, a global secondaries firm that leverages proprietary technology to optimise its investment strategy. The team, headquartered in London with an office in New York, and led by veteran secondaries investors and managing partners Vincent Gombault and Ingmar Vallano, has successfully invested together for many years at blue chip institutions, namely Ardian, Coller Capital and New York City Retirement Systems. The partners, David Enriquez, Inigo Weston, Jonathan Hillgarth-Williams, Joshua Manasseh and Harry Vander Elst, as well as senior advisor Franck Nguyen, bring strong experience in both investment and data science. The firm is focused on investing in one of the fastest-growing segments in private equity, the LP-led secondary market, with a particular focus on diversified LP portfolios of quality buyout and growth managers principally in North America and Western Europe.
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Clipway was founded to apply next-generation technology to the secondaries industry – a highly data-intensive asset class, which requires investors to extract, store, and synthesise millions of data points per quarter. Clipway’s proprietary Tech-Enabled Secondaries System (TESS) brings an unprecedented level of precision and efficiency to investing in LP portfolios, using a variety of continuously improving machine learning models and data analytics. TESS automates portfolio data extraction and analysis – processes that the secondaries industry has historically completed manually – enabling the investment team to optimise pricing and monitoring of LP portfolios that are comprised of hundreds of underlying assets.
“The secondaries industry has historically been slow to innovate. Clipway was purpose-built to leverage technology, which enables us to apply the full potential of data analytics and machine learning techniques to secondaries investing, without needing to overhaul complex legacy systems,” commented Vincent Gombault, a Managing Partner and founding member of Clipway. “Through the combination of our experienced team and our proprietary technology, TESS, we can move quicky to capitalise on this exciting and growing opportunity set across the secondaries market. We are already very active in the market and look forward to deploying capital in the months to come.”
Clipway has grown at speed and is currently composed of 24 employees across its London and New York offices, including a range of experienced investment professionals, an established technology team and strong support functions, with more hires to be announced in the coming months.
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Strategic Minority Investors
Clipway is also pleased to announce that it has secured strategic, minority investments from leading global investor General Atlantic and leading European independent asset manager Carmignac. These financial investments will help support Clipway’s growth plans.
Maxime Carmignac, CEO of Carmignac UK, declared: “Private equity is an asset class in which we see attractive long-term growth opportunities. The Clipway leadership team has participated in one of the most successful track records in secondaries globally – the best segment to deploy fresh money in the current private equity environment as it provides attractive entry points, superior visibility and diversification. We share the same entrepreneurial mindset and ambitions; and we are excited to be taking this new step on our private equity journey.”
“As the global secondaries market scales in both size and complexity, Clipway is leveraging digital innovation to optimise investment strategies and deliver value to investors,” said Gabriel Caillaux, Co-President, Managing Director, and Head of Climate and EMEA at General Atlantic. “Clipway’s seasoned leadership team has a strong track record of collaboration across the industry, and we look forward to supporting their vision to improve secondaries investing through technology.”
Ingmar Vallano, a Managing Partner and founding member of Clipway, added: “Clipway has been founded with the clear intention of transforming secondaries investing. As part of that, we want to be able to partner with some of the leading firms in the industry and believe that both General Atlantic and Carmignac, two established investors with strong entrepreneurial spirit, complement our existing expertise very well. We are excited to begin the Clipway journey alongside them.”
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