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Montauk TriGuard
Montauk TriGuard manages nine private equity funds designed to solve complex problems for leading secondary fund managers. It provides value-add liquidity...
Overview
Montauk TriGuard manages nine private equity funds designed to solve complex problems for leading secondary fund managers. It provides value-add liquidity solutions by focusing exclusively on three main underserved niches in the secondary market. Since 1999, the team has raised nine private equity secondary funds with $3.4 billion of committed capital from over 500 investors.
General information
Firm type
Secondary
Year founded
1999
Location
Region
North America
Country
United States
City
Newport Beach
Corporate office
Irvine, CA, United States
Principals
Ronn Cornelius
Co-Managing Partner
Eric Becker
Sean Gessay
Brian Smith
Brian Smith
general partner
Ed Pfohl
general partner
Sector focus
Frequently asked questions
Does Montauk TriGuard invest directly in companies or only through funds?
The firm engages in both fund-level secondary purchases and direct secondary transactions, where portfolios of company stakes are acquired. Its primary model remains a fund-of-funds framework, meaning most capital flows into limited partner positions across multiple managers rather than direct single-company equity checks.
How is Montauk TriGuard different from large secondary buyers like Lexington Partners or Ardian?
Scale is the primary differentiator. The large platforms compete for multi-billion-dollar LP portfolio trades, while Montauk TriGuard targets the middle market, where deal sizes are smaller and sourcing is relationship-dependent. The additional fund-of-funds wrapper means the firm commits to new blind-pool funds, not just buying seasoned LP positions.
What is Montauk TriGuard's known posture on co-investments alongside external GPs?
The firm's direct secondary capability — acquiring portfolios of company stakes — functions as a form of co-investment alongside the original fund managers, but there is no public evidence that Montauk TriGuard writes fresh primary co-investment checks into new deals. Its model centers on acquiring existing positions rather than originating new equity alongside GPs.
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