Tarsadia is expanding its private markets investment platform with the launch of Tarsadia Strategic Opportunities (TSO), a dedicated principal-investing strategy focused on complex capital and liquidity needs across the private markets ecosystem, SecondaryLink has learned.

TSO launches with $250 million of committed capital, with Tarsadia targeting up to $1 billion of deployment through the platform's initial deployment phase, according to a person familiar with the matter.

Led by Goldman Sachs and StepStone secondaries alum Viman Singh, the platform sits within Tarsadia's multibillion-dollar permanent capital base.

TSO is designed to provide flexible capital to sponsors, companies, LPs, and other institutional counterparties where complexity, duration mismatch, or structural constraints limit conventional capital solutions. The platform can size to conviction, structure around the underlying constraint, and hold according to the investment thesis rather than a fund clock, allowing it to underwrite to an asset's realization timeline rather than a predetermined investment period.

In a statement, Singh framed the platform's thesis around the duration mismatch in private markets. "We do not underwrite the spread; we underwrite the asset and the people behind it," Singh said. "We sit on the same side of the table as the GP or LP, working to solve a problem rather than simply capture a discount. Much of the value lost in private markets is not a function of asset quality. It is a function of duration mismatch. Company and fund lives do not move in parallel. TSO was built for that opportunity."

Mitchell Caplan, CEO of Tarsadia and former CEO of E*TRADE, said: "I've had a front-row seat to financial markets for more than thirty years and watched public markets evolve as new structures emerged to meet changing needs. Private markets are going through a similar evolution today. Companies are staying private longer, fund lives and asset lives are increasingly misaligned, and traditional sources of capital are not always built to solve for that complexity. TSO was created for that environment, combining permanent capital with the flexibility to structure around the needs of the asset, the GP, and the LP."

The launch comes as private markets liquidity activity reaches record levels. Global secondary transaction volume reached approximately $225 billion in 2025, another record year for the market. Activity has continued to accelerate in 2026, with first-half transaction volume reaching approximately $121 billion, up 19% year over year and representing the highest first-half volume on record. Lazard expects full-year 2026 volume to reach approximately $275 billion, as both GPs and LPs increasingly use the secondary market as a core liquidity and portfolio management tool.

Tarsadia's launch comes as new capital continues to enter private markets liquidity through team builds, lift-outs, specialized strategies, and platform expansions. While family offices have historically accessed secondaries and other complex private equity opportunities primarily through third-party managers, Tarsadia is taking a direct principal-investing approach, building a dedicated platform backed by permanent capital.

Tarsadia is a multibillion-dollar family office investment platform with more than 30 years of experience across private and public markets. With offices in Newport Beach and New York, the firm invests across five strategies spanning private and public markets: Alpha-T Direct, Life Sciences, Real Estate, Strategic Opportunities, and Tarsadia Capital.