Ex-Blackstone GP Stakes Global Head Forms PE Secondaries Firm

Former Blackstone global head of GP stakes Mustafa Siddiqui has launched a private equity firm that will specialize in US and European middle-market secondaries. 

SQ Capital will target high returns on equity and equity-like investments in LP interests and GP-led continuation vehicles to take advantage of a secondary market “at a major inflection point,” according to Siddiqui, as LPs and GPs seek greater liquidity via the secondary market following several years of declining exit volumes.

SQ Capital said it will be an “AI-native” secondaries firm, employing an AI-enabled proprietary “SQORE” system in evaluating secondary investments through a bespoke criteria. The newly-launched private equity firm is headquartered in New York.