New York, October 15, 2026 ( GLOBE NEWSWIRE )Nasdaq Private Market, which provides liquidity, capital, and investment solutions for private companies, employees, and investors, LLC ( NPM ), announced today that it has completed the acquisition of Nasdaq, Inc. Its secondary fund business Nasdaq Fund Secondaries, LLC as well as its subsidiaries NFSTX, LLC (collectively referred to as NFS). NPM also announced the appointment of Marshall Widom as the Managing Director and Head of the Secondary Fund Business, effective from November 2026.

This acquisition was first announced in July, aiming to integrate direct company shares and secondary fund shares onto the same platform, enabling investors and managers to gain liquidity in both types of assets through the same partner.

The secondary market has become the main source of liquidity for the private equity market. According to the Jefferies "2025 Global Secondary Market Review," global secondary market trading volume increased by 53% in 2025, reaching approximately $233 billion. LP-dominated transactions and GP-dominated transactions each accounted for nearly half of the activity. Limited partners are selling existing fund shares to rebalance their portfolios, while fund managers are returning capital to investors by extending fund instruments and other structured solutions, while retaining assets with high certainty. GP-dominated transactions accounted for less than 20% of the market ten years ago, but now they have approached half.

Nasdaq Private Market CEO Tom Callahan stated: "After completing the acquisition of Nasdaq Fund Secondaries, our customers will be able to obtain liquidity between direct shares and fund shares through a single platform. Marshall has previously provided advisory services for some of the most complex LP and GP transactions in the market. His relationships with LP, GP, as well as with secondary market investors, make him the ideal leader to expand this business as demand grows rapidly."

As the Managing Director and person in charge of the secondary fund business, Widom will expand the institutional advisory platform of NPM and make high-touch customer service the core of the business. He will combine the technical capabilities of NPM with complex transaction execution to drive the company's expansion in complex secondary fund transactions, in order to meet the rapidly growing market demand.

Widom worked at PJT Partners before joining NPM. There, he served as a director in its Private Capital Solutions team, providing LP and GP leading secondary trading advisory services to global institutional clients. He has extensive connections within the venture capital community, global LP, and secondary market investors. His expertise lies in identifying and executing complex transactions, including single-asset and multi-asset continuation fund structures, as well as the sale of diversified LP investment portfolios. Prior to joining PJT Partners, Widom was responsible for originating new loans at CIT Bank and managed a sizable asset-backed loan portfolio. He holds a Colgate University Bachelor of Arts degree.

Widom indicates that "institutional investors and managers need a partner who can provide advisory services for complex secondary transactions as well as execute them in a precise and prudent manner. The combination of NPM's technical and distribution capabilities with the Nasdaq Fund Secondaries platform lays a solid foundation for achieving this. I look forward to further strengthening the existing relationships between NPM and GP as well as LP, and expanding our coverage across the entire market."

About Nasdaq Private Market

Nasdaq Private Market is a leading provider of liquidity, capital, and investment solutions for private companies, employees, and investors, having executed over $80 billion in secondary trading volume. The company focuses on building modern infrastructure for the private market ecosystem, including technologies for company-led liquidity events, private equity settlement engines, market and trading services for the buying and selling of private company stocks and funds, as well as private market data and intelligence services. Nasdaq Private Market also helps private companies connect with capital through primary financing and capital introductions. For more information, please visit nasdaqprivatemarket.com.

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