W Capital Partners
Direct-secondaries specialist buying stakes in private companies.
Secondaries & Continuation CapitalFirmNorth America
Target market
Direct stakes in sponsor-backed and late-stage private companies
Geography
North America
Overview
W Capital Partners specializes in direct secondaries — buying minority stakes in private companies from existing shareholders and providing GP liquidity solutions such as minority recaps and continuation capital. The New York firm was acquired by AXA IM in 2024 and, following BNP Paribas's 2025 takeover of AXA IM, now sits within BNP Paribas Asset Management.
Key facts
- Direct-secondaries specialist founded in 2001
- Acquired by AXA IM (2024); now part of BNP Paribas AM
- Sizes the direct-secondaries market at $100B+ annually
- Based in New York