Twin Bridge Capital Raised $300M for Secondary Fund
The Chicago firm is targeting $600 million for its new fund focused on single-asset continuation deals.
Updated on Sept. 23, 2026 in Business Strategy
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Chicago-based Twin Bridge Capital Partners has secured an interim close of $300 million for its first dedicated private equity secondaries fund, the Twin Bridge Amplify Fund. The firm is now seeking to reach its $600 million target by the first half of 2027.
Why it matters
The firm is scaling its secondary-market strategy to capture increasing liquidity needs in the private equity space, where continuation funds have become a major tool for sponsors. This pivot allows the firm to deploy capital into established assets rather than only new business formations.
Twin Bridge secured $300 million toward its $600 million target for the new Amplify fund, while reporting $5.2 billion in assets under management as of January 1, 2026. The firm allocates 25% of the fund for co-investments and 20% for tactical market opportunities.
The players
Twin Bridge Capital Partners
A Chicago-based investment firm managing private equity strategies including fund of funds and secondary market vehicles.
The details
The Amplify fund targets single-asset continuation deals, writing checks between $20 million and $40 million for companies with enterprise values of $1 billion or less. By partnering with existing sponsor relationships, the firm provides liquidity for mature investments while maintaining exposure to proven assets. The secondary market remains highly active, with single-asset continuation funds accounting for $34 billion of the $121 billion total secondary volume in the first half of 2026.
Timeline
December 2025: The Amplify fund held an interim close with $300 million.
January 1, 2026: Twin Bridge held $5.2 billion in assets under management.
May 2026: The firm closed its sixth flagship fund of funds at $855 million.
First half of 2026: Secondary deal volume reached $121 billion.
First half of 2027: The fund is expected to reach its final close.
Market Landscape
The firm is aligning its growth with the accelerating trend of GP-led secondary deals, which have become a cornerstone of liquidity in private equity. This move follows a strong period of fundraising, including the $855 million closure of its sixth flagship fund in May 2026.
Operators in the private equity and M&A space should monitor the growth of GP-led secondaries, as these funds increasingly define the exit environment for companies with enterprise values under $1 billion. Smaller firms should consider how continuation fund opportunities impact their own capital availability and sponsor exit timelines.
The takeaway
Secondary markets are now a primary vehicle for sponsor liquidity rather than an alternative, driven by billions in active annual deal flow. Firms should track whether their current private equity backers are adding secondary strategies to their platform, as this may signal a preference for holding assets longer via continuation vehicles.
What happens next
The firm aims to reach a final close for the $600 million Amplify fund during the first half of 2027.
Further reading
For more on the current shifts in investment approaches, visit our Business Strategy section.
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