NEW YORK, Oct. 15, 2026 (GLOBE NEWSWIRE) -- Nasdaq Private Market, LLC (NPM), a leading provider of liquidity, capital, and investment solutions for private companies, employees, and investors, today announced that it has completed its acquisition of Nasdaq Fund Secondaries, LLC and its subsidiary, NFSTX, LLC (NFS), the fund secondaries business of Nasdaq, Inc. NPM also announced the appointment of Marshall Widom as Managing Director and Head of Fund Secondaries, effective November 2026.
The acquisition, first announced in July, brings direct company shares and secondary fund stakes onto a single platform, giving investors and managers one partner for liquidity across both.
Secondaries have become a primary source of liquidity in the private markets. Global secondary volume grew 53% in 2025 to approximately $233 billion, according to Jefferies’ 2025 Global Secondary Market Review, with activity split nearly evenly between LP-led and GP-led transactions. Limited partners are selling existing fund stakes to rebalance portfolios, while fund managers are using continuation vehicles and other structured solutions to return capital while retaining high-conviction assets. GP-led activity has grown from less than 20% of the market a decade ago to nearly half today.
“Completing the acquisition of Nasdaq Fund Secondaries gives our clients a single platform for liquidity across direct shares and fund stakes,” said Tom Callahan, CEO of Nasdaq Private Market. “Marshall has advised on some of the most complex LP- and GP-led transactions in the market. His relationships across LPs, GPs, and secondary investors make him the right leader to scale this business as demand accelerates.”
As Managing Director and Head of Fund Secondaries, Mr. Widom will scale NPM’s institutional advisory platform, with high-touch client service at the center of the business. He will pair NPM’s technology with sophisticated deal execution to drive the firm’s expansion in complex fund secondaries and meet rapidly accelerating market demand.
Mr. Widom joins NPM from PJT Partners, where he was a Director in the Private Capital Solutions group and advised leading global institutional clients in LP- and GP-led secondary transactions. He has deep relationships across the VC community, global LPs, and secondary investors, and specializes in sourcing and executing complex deals, ranging from single- and multi-asset continuation vehicles to diversified LP portfolio sales. Before PJT Partners, Mr. Widom underwrote new loans and managed a sizable asset-based lending portfolio at CIT Bank. He holds a B.A. from Colgate University.
“Institutional investors and managers need a partner that can both advise on and execute complex secondary transactions with precision and discretion,” said Mr. Widom. “The combination of NPM’s technology and distribution with the Nasdaq Fund Secondaries platform creates a strong foundation to deliver that, and I look forward to strengthening NPM's existing relationships with GPs and LPs and expanding our reach across the market.”
About Nasdaq Private Market
Nasdaq Private Market is a leading provider of liquidity, capital, and investment solutions for private companies, employees, and investors, having executed more than $80bn in secondary transaction volume. The company is focused on building modern infrastructure for the private market ecosystem, including technology for company-sponsored liquidity events, a settlement engine for private shares, a marketplace and trading business for buying and selling private company stock and funds, and data and intelligence on the private market. Nasdaq Private Market also helps connect private companies to capital through primary fundraising and capital introduction. For more information, visit nasdaqprivatemarket.com.
Media Contact
Nasdaq Private Market
Sam Tortora
press@npm.com
