Cari Lodge, Veteran in the Secondaries Market, Launches a New Secondaries Firm, Aqualis Partners

The firm will focus on small transactions across the U.S. and Europe, combining deep experience with data-driven innovation.

DARIEN , Conn., Oct. 8, 2025 /PRNewswire/ -- Aqualis Partners, a private equity secondaries firm founded by 25-year industry veteran Cari Lodge, officially launched today to meet growing demand for creative liquidity solutions in private markets. Lodge, recently named one of Private Equity News' "Twenty Most Influential in Secondaries 2025," previously led the secondaries business at CF Private Equity, a subsidiary of Commonfund.

Across her career, Cari has closed on over 425 transactions.  She started her career in secondaries at DLJ Strategic Partners (now Blackstone Strategic Partners) in 2000.  In 2013, Cari was hired by CF Private Equity to help build out a dedicated secondaries team and launch its first dedicated fund. 

Aqualis launches at a pivotal point in the secondaries market where LPs and GPs are demanding more liquidity, and portfolio management is becoming a must for limited partners. 

"I'm thrilled to launch Aqualis," said Cari Lodge, Founder and Managing Partner. "There has never been a more exciting time to invest in the secondary market.  Now is the perfect time to launch a dedicated independent secondaries firm to take advantage of the vast opportunities."

About Aqualis Partners

Founded in 2025, Aqualis Partners "Aqualis" is a generalist private equity secondaries firm. We plan to focus on purchasing small LP interests, primarily in the U.S. and Europe, and complement this core focus with opportunistic investments in GP-leds, directs, preferreds, seasoned primaries, as well as investments in other geographies. We will combine decades of experience in the secondaries market with an entrepreneurial mindset, where we intend to lean into innovation, data analytics, and AI to give the firm an edge in this ever-changing market. Our experience, paired with innovation, positions us to deliver creative liquidity solutions that meet the evolving needs of the private markets.

"Aqualis" is Latin for "of or pertaining to water", and just as water is liquid, adapts and flows, we intend to provide investors with innovative and reliable liquidity solutions, helping them to unlock value, rebalance portfolios, manage cash flows, and enhance returns. 

Aqualis is headquartered in Darien, CT.  For more information, please visit our website at www.aqualispartners.com.

SOURCE Aqualis Partners