Why Continuation Vehicle Cash Math Breaks in the Final Fourteen Days
Patrick Krajci of Alter Domus explains why multi-vintage continuation vehicles create sudden cash and election headaches for mid-market CFOs.
How secondaries are reshaping fund operations
With Nicholas Neveling, Patrick Krajci · Monday, November 9, 2026
Nicholas Neveling speaks with Patrick Krajci, Head of Private Equity for North America at Alter Domus, regarding the rapid operational evolution of the private capital secondaries market. They explore how continuation vehicles and LP-led secondary strategies require sophisticated data infrastructure, proactive investor election management, and rigorous cash forecasting. The discussion highlights the transition toward automated fund administration and multi-asset global operating models to handle increasing industry complexity.
Key takeaways
- Patrick Krajci at Alter Domus warns that finance teams consistently underestimate the preparation required before investor election notices go live, especially across multi-vintage portfolios. Read more →
- Alter Domus executive Patrick Krajci warns that private credit secondaries cannot run on private equity fund administration infrastructure. Read more →
- Patrick Krajci, Head of Private Equity for North America at Alter Domus, notes that scaling a secondaries strategy to a $1 billion fund pushes underlying manager counts from 50 to 500. Read more →
3 articles from this episode
Credit Secondaries Require Monthly Loan Servicing Infrastructure
Patrick Krajci explains why credit secondaries demand monthly loan administration and asset servicing that private equity back offices cannot handle.
Patrick Krajci on Data Systems for Billion-Dollar Secondaries
Alter Domus head Patrick Krajci explains why secondaries strategies scaling to $1B require connecting GL and IBOR systems to track hundreds of managers.
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