Blackstone’s Ex-GP Stakes Head Siddiqui Debuts Secondaries Firm

Blackstone Inc.’s former global head of GP stakes, Mustafa Siddiqui, has launched SQ Capital, which will invest in private equity secondaries with a focus on the middle market.

The New York-based firm will have the ability to buy private equity fund positions from institutional investors such as pensions and endowments and back continuation vehicles that are formed to manage existing assets, Siddiqui, SQ’s founder and chief executive officer, said in an interview.

Due to a dearth of initial public offerings and a gap in valuation expectations between buyers and sellers that has chilled some private equity deal activity, ...