The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

SAVAS Capital Marketplace, Palico
SAVAS Capital Marketplace, which connects South Korean investors and US fund managers, has sealed a deal with Palico, an online platform for secondary market transactions. The pact will expand SAVAS’ reach to prospective buyers of private investments on the secondary market. 

As a result of the partnership, the Savas Capital Marketplace will increase its access to more than 1,800 secondary and non-traditional buyers of private investments.

Traditionally, sellers have relied on financial intermediaries such as agents or brokers to manage secondary market transactions, which can see high fees, limited transparency, and operational complexities. SAVAS said its marketplace streamlines processes through an auction-based platform, inviting multiple buyers to bid publicly on private fund investments. 

“In our meetings with Korean institutional investors in Seoul last quarter we identified a significant demand for the sale of specific investments on our platform,” Alan McGlade, a US partner at SAVAS Capital, said. 

SAVAS has a team in Seoul that collaborates with South Korean institutions; it also has investment teams in Boston and New York.

Palico is an online marketplace for buying and selling LP-led secondaries, especially for smaller fund positions