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Old faces in new places: A look at recent secondaries spin-outs

Writer's picture: Seine CapitalSeine Capital

Two new secondaries-focused firms have already launched in 2025.


There has been a recent trend in secondaries of high-ranking individuals spinning out of their firms to launch their own shops.


Recent years have seen professionals spin-out from big names such as Coller Capital, Morgan Stanley and Apollo Global Management to name a few, and two new firms have already opened in the first few weeks of 2025.


Here's a look at some notable new firms that have launched in the past 12 months.


Seine Capital


Seine Capital was launched by Fabrice Moyne, former head of secondaries at Mantra Investment Partners - a position he left in 2022.


Moyne was joined by Sol Zein, who previously held roles at Montana Capital Partners and Pantheon, as well as Chad Zidow who previously worked at Crestline Investors, Landmark Partners and tech-focused trading platform, Beneficient, based in the US.


The firm launched its debut fund, Seine Capital Liquidity Solutions, in April last year and is targeting $150 million with a $200 million hard-cap. The fund will primarily target LP sales, committing 70 percent of its capital to those deals. Twenty to 30 percent will be dedicated to GP-leds, and up to 10 percent will be for direct secondaries.

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