# Stage Capital

Stage Capital is an Asset Manager based in London, United Kingdom.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** 25 Eccleston Place, London, SW1W 9NF, United Kingdom
- **Founded:** 2022
- **Assets under management:** Undisclosed
- **Website:** www.stagecap.com
- **LinkedIn:** https://www.linkedin.com/company/stage-capital

## Regulatory record

- **CRD number:** 314199
- **SEC file number:** 802-130173
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/314199

## About

Stage Capital is an independent private equity firm specialising in direct and complex secondary investments in the mid-market. It offers incumbent GPs and LPs the full range of liquidity solutions, customised to their needs. The team has a strong track record of managing complex secondary positions, both through funds and on balance sheet.

## Sectors

- Real Estate
- Secondaries & Special Situations

## People

- Graham Thomas — Managing Partner
- James Huckle — Partner
- James Tugwell — Investment Director
- Ventseslav Avramov — Consultant and Advisor

## Questions

### Does Stage Capital invest deal-by-deal or through a committed blind-pool fund?

Stage Capital currently analyses new opportunities on a deal-by-deal basis, according to its own public disclosures. Its first two vehicles were formed for specific portfolio acquisitions — a Laurel LP fund for the NBG carve-out and a second fund for Polish real estate — rather than as general blind-pool commitments. This transaction-specific approach lets the firm tailor capital calls and investment structures to the exact liquidity needs of selling GPs or LPs.

### What is Stage Capital's geographic focus and regulatory footprint?

Stage Capital operates from its single office in London and deals primarily with European mid-market assets, as evidenced by its work with a Greek bank and a Polish real estate portfolio. The firm is authorized and regulated by the Financial Conduct Authority under registration number 742511, positioning it as a UK-domiciled private equity manager.

### How has Stage Capital's performance compared to its peers?

As of Q2 2023, Stage Capital's first fund ranked in the top decile for IRR and the top quartile for TVPI relative to its vintage, while its second fund also registered as a top-quartile performer. The firm does not disclose current deployment or total AUM, making broader performance comparisons dependent on these dated metrics.

## Related profiles

- [Stage 2 Capital](https://altss.com/profile/stage-2-capital-advisors)
- [StageDotO](https://altss.com/profile/stagedoto)

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Last updated: 2026-08-11T15:08:11.274Z

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