H.I.G. Capital has brought on four senior executives from Morgan Stanley’s private equity secondaries unit, as the Miami-headquartered firm prepares to launch its first dedicated GP-led secondaries fund in early 2026, according to sources cited by Bloomberg.

The new team includes Dan Wieder, Yash Gupta, Austin Gerber, and Joe Holleran, seasoned professionals who together bring nearly five decades of experience in secondaries investing. Wieder and Gupta held senior leadership roles as Managing Director and Partner, respectively, while Gerber and Holleran were Executive Directors at Morgan Stanley.

The hires signal H.I.G.’s entry into the fast-expanding GP-led secondaries space, with a particular focus on continuation vehicles. These structures allow private equity sponsors to roll high-performing assets into new vehicles, offering liquidity to legacy LPs while retaining ownership and extending value creation.

The strategic buildout positions H.I.G. alongside other mid- and large-cap players, including Warburg Pincus, Leonard Green & Partners, and New Mountain Capital, that are actively expanding into secondaries amid a constrained exit environment.

GP-led transactions have grown in prominence as sponsors seek flexible solutions for monetising portfolio assets. According to Jefferies, GP-led exits rose 19% in the first half of 2025, reflecting heightened demand for alternative liquidity paths as traditional M&A and IPO markets remain subdued.

The upcoming H.I.G. fund will target such transactions across North America and Europe, with the newly hired team leading origination, underwriting, and execution efforts.

The firm has not publicly commented on the hires or fund strategy.

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