Newsmakers
TIFF Names Senior Leaders to Build Out Secondaries Platform
Andrew Murray and Stephen Grau will expand the $11 billion OCIO firm’s capabilities in the private equity secondary market.
Reported by Matt Toledo
Andrew Murray
Outsourced CIO provider TIFF Investment Management announced Tuesday two key hires who will lead the firm’s dedicated private equity secondaries platform.
Andrew Murray has joined as managing director and head of secondary market investing, while Stephen Grau has joined as executive director of secondary investing. The duo have more than three decades of combined experience across secondaries.
According to a statement from TIFF, the appointment of dedicated secondaries leadership will allow the firm to more efficiently source, evaluate and execute on opportunities in the secondaries market across traditional limited-partner-fund interests, co-investments, general-partner-led transactions, continuation vehicles and other private equity investment vehicles.
“Secondaries have become an increasingly important part of the private markets toolkit as investors look for more flexible ways to manage liquidity, pacing, and private equity exposure,” said TIFF CEO Kane Brenan in a statement. “Andrew and Stephen bring focused expertise to an area where we see a clear investment opportunity on behalf of our clients and where we can leverage our long-standing relationships, lower-middle-market private equity experience, and history of evaluating these types of opportunities.”
Stephen Grau
Murray will join TIFF from Mill Creek Capital Advisors LLC, where he helped build and lead the firm’s secondaries platform. Grau joins from Jefferies, where he was a vice president in the firm’s private equity liquidity solutions team.
“Clients want more flexible ways to access alternatives, while GPs and asset holders need experienced counterparties who understand the assets and can move efficiently,” Grau said in a statement. “TIFF’s platform gives us the ability to bring both sides together with discipline, transparency, and a focus on durable relationships.”