Devon Park Advisors

Devon Park Advisors is a financial advisory firm established in 2021 by Jonathan Costello, a veteran of the secondary market with over two decades of experience. Headquartered in Palm Beach Gardens, Florida, the firm specializes in providing strategic advice and capital-raising services for private market participants, with a core business of advising sponsors on continuation fund transactions. The firm's name is a nod to the former address of Safeguard Scientifics, where Costello executed his first secondary deal in 2001.

Costello's extensive background includes roles as a Partner and Global Head of Secondary Advisory at PJT Park Hill and Head of the Morgan Stanley Alternative Investment Partners Private Equity Secondary Team. Devon Park distinguishes itself by staffing its team entirely with professionals who have buy-side experience, aiming to provide deeper insights into investor needs. The firm serves clients across private equity, real estate, private credit, and infrastructure sectors. Its services focus on three main pillars: asset-level liquidity solutions, such as continuation funds and equity strip sales; fund-level liquidity solutions, like LP tender offers and NAV-based financing; and management company-level financing solutions. Devon Park primarily targets transactions with an equity requirement between $250 million and $750 million.

In August 2025, Perella Weinberg Partners announced it had entered into an agreement to acquire Devon Park Advisors. The acquisition will see Devon Park's 15 professionals form Perella Weinberg's new Private Funds Advisory business, which will be led by Jonathan Costello. The deal aims to enhance Perella Weinberg's services for alternative asset managers in the expanding secondaries market.

Keywords: secondary advisory, continuation funds, GP-led transactions, capital raising, private markets, asset liquidity, fund liquidity, strategic advisory, private equity finance, infrastructure finance