Nasdaq Private Market has acquired Nasdaq Fund Secondaries, the fund secondaries business of Nasdaq Inc., expanding its secondary liquidity platform to include both direct company shares and multi-asset fund stakes. The acquisition, announced on July 21, 2026, positions NPM to serve the full spectrum of private secondary liquidity demand from a single platform. Global secondary volume grew an estimated 53% in 2025 to roughly $233 billion, split almost evenly between LP-led and GP-led activity. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals, with terms undisclosed. NPM, which spun out of Nasdaq in 2021, has executed nearly $80 billion in secondary liquidity for over 200,000 individual eligible employee shareholders and investors across more than 1,000 company-sponsored liquidity programs.
Nasdaq IncNasdaq Inc. sells its fund secondaries business, generating proceeds and streamlining operations.
Nasdaq Private Market acquires the business, expanding its platform and positioning for growth in secondary liquidity.