Setter Capital is a Canadian independent

investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...

primarily focused on the

private equity secondary market In finance, the private-equity secondary market (also often called private-equity secondaries or secondaries) refers to the buying and selling of pre-existing investor commitments to private-equity and other alternative investment funds. Given t ...

, providing fund acquisition, non-strategic asset disposal, investor liquidity management and optimization and market validation advisory services between some of the world’s largest institutional investors. Setter Capital acts as a sell-side advisor and as an advisor to buyers and “covers over 7,000 institutional investors in alternative investment funds, over 800 buyers of funds, more than 2,000 opportunistic sellers, and their buy and sell interest in more than 3,000 fund families.” Since inception, Setter Capital has completed over $25 billion in successful secondary transactions.

Regulation

Setter Capital Inc. is a

broker-dealer In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and d ...

licensed by the

Financial Industry Regulatory Authority The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Associati ...

(FINRA) and an exempt market dealer licensed by the

Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown agency which reports to the Ontario legislature through the Minis ...

and is a member of the

Securities Investor Protection Corporation The Securities Investor Protection Corporation (SIPC ) is a federally mandated, non-profit, member-funded, United States corporation created under the Securities Investor Protection Act (SIPA) of 1970 that mandates membership of most US-registere ...

(SIPC).

Competitors

Within the

secondary Secondary may refer to: Science and nature * Secondary emission, of particles ** Secondary electrons, electrons generated as ionization products * The secondary winding, or the electrical or electronic circuit connected to the secondary winding i ...

advisory space, other advisors also include investments banks (

Credit Suisse Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global " ...

and

UBS UBS Group AG is a multinational Investment banking, investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres ...

), electronic exchanges (NYPPE also a buyer of secondary interests through Allen Capital Partners), dedicated secondary advisory firms such as

Cogent Partners Cogent Partners is a boutique, private equity-focused investment bank and advisory firm and was one of the first advisory firms dedicated to transactions in the private equity secondary market ( secondaries). The firm, which was founded in 2002, ...

, as well as established fund placement agents such as (

Campbell Lutyens Campbell Lutyens is an independent private markets advisory firm exclusively focused on primary fundraising, secondary transactions and GP capital advisory services in the private equity, private debt, infrastructure and sustainable investing m ...

, Park Hill Group and

Probitas Partners Probitas Partners is an independent, global advisory firm founded in 2001. The company is focused on raising capital as a placement agent for private equity fund sponsors as well as providing portfolio management and liquidity solutions, through ...

Setter Liquidity Rating

In the course of monitoring secondary market activity, Setter has developed a unique measure of the relative liquidity of fund investments, termed the Setter Liquidity Rating whereby certain fund families receive a rating of ‘Good‘, ‘Very Good’, ‘Excellent’ or ‘Unrated’. Generally, a ‘Good’ rating suggests that there are many potential buyers, (typically 20+) that are interested to bid on a fund within the fund family. ‘Very Good’ and ‘Excellent’ denote progressively stronger potential demand. ‘Unrated’ fund families are less targeted by buyers and/or have fewer buyers within their existing investor base or for which there is simply not enough data points because they rarely come up for sale.” Private Equity International(September,2013) This metric allows sellers to assess the saleability of their interests, buyers to understand the competitive landscape for their targeted funds and to assist primary investors in estimating the potential liquidity of new or existing investments. The Setter Liquidity Rating is available o
SecondaryLink.com
a website dedicated to the secondary market for alternative investments.

References

{{Investment banks Financial services companies established in 2006 Banks established in 2006 Stock brokerages and investment banks of Canada