Firms

Goldman Sachs advises private companies on liquidity-program design, tender offers, and pre-IPO secondaries, and operates trading desks active in private-company shares.

J.P. Morgan provides advisory, capital, and shareholder-services capabilities to private companies running tender offers, including custody and settlement for participating buyers.

Morgan Stanley is a global investment bank whose Shareworks platform is one of the most active equity-administration providers for private-company tender offers. The bank also acts as an advisor and information agent on private liquidity programs.

Cooley LLP is a leading technology-focused law firm that advises issuers and investors on private-company tender offers, secondary transactions, and shareholder-liquidity programs.

Fenwick & West is a technology-focused law firm that advises emerging and late-stage private companies on tender offers, secondary transactions, and equity-program design.

Wilson Sonsini is one of the most active law firms representing issuers in private-company tender offers, including drafting offer documents, letters of transmittal, and disclosure packages.

Carta is an equity-management platform widely used by venture-backed private companies to maintain cap tables, administer 409A valuations, and operate tender offers and secondary programs.

Shareworks (a Morgan Stanley business) is a major equity-administration platform used by large private companies to manage cap tables, equity awards, and tender-offer execution.

Forge Global is a private-securities marketplace and broker-dealer that matches buyers and sellers of private-company stock, and that supports company-sponsored tender offers and structured liquidity programs.

Nasdaq Private Market (NPM) is a platform that supports company-sponsored tender offers, auctions, and secondary programs for private-company shares.