Andy Nick

Andy Nick is a Managing Director and Co-Head of Secondaries Capital Advisory at Piper Sandler, where he has advised on secondary transactions spanning private equity, venture capital, and continuation vehicles. He brings practical deal-making perspective to discussions of market dynamics, buyer behavior, and strategic use of secondary processes to optimize LP outcomes and GP franchise positioning. Nick is particularly expert in the growing opportunity set of smaller and mid-market continuation vehicles.

• Down-market and lower-middle-market continuation vehicle dynamics
• Execution certainty advantages for smaller CV transactions
• Bid-ask spread dynamics between mid-market and large-cap secondary processes
• Gp quality due diligence as a key factor in continuation vehicle underwriting
• Venture capital fund secondary market trends and valuation challenges
• Sell-side process design and timing for single-asset CV transactions
• Management team alignment and compensation in continuation vehicle structures
• Multi-asset CVs as a fundraising and portfolio management tool for venture GPs

Liquid Courage Episodes

• Venture Capital Has an $8 Trillion Liquidity Problem2025-12-17
• Downmarket Continuation Vehicles Have Many Upsides2025-11-25