Understanding Primary and Secondary Investments

Mark Love is the former Wealth Advisor for LKL Partners in Phoenix, Arizona, and former Senior Vice President at Sutro and Co. Incorporated. Currently a partner at Goldmark Venture Partners in Scottsdale, Arizona, Mark Love is a private investor and investment banker specializing in primary and secondary investment portfolio building.

The significant difference between a primary and secondary investment offering is how the stocks are acquired. In primary investment offerings, investors purchase shares directly from the issuing company. They generally acquire new equity stocks and bonds. Secondary investment markets are a step removed from the parent company; with a secondary investment offering, investors buy stocks from other sources besides the issuer, such as investors, employees, or former employees. They trade existing securities between investors by regulatory bodies such as the Securities and Exchange Commission (SEC).

There are distinct advantages to either type of investment as well. Primary fund investment, which refers to those through several funds into portfolio companies, is an effective method of obtaining diversified exposure to the private equity asset class. On the other hand, secondary fund investment involves buying and selling preexisting investor commitments to private equity funds. Investors who engage in secondary investment expect benefits such as a faster build-up of private equity exposure and increased portfolio transparency. 

Phoenix Children’s Hospital Identifies Community Health Needs

In addition to his decades-spanning career in financial services, Mark Love has a history of involvement in charitable causes. Mark Love formerly served on the board of the Phoenix Children’s Hospital.

Every three years, the Phoenix Children’s Hospital conducts an extensive assessment of the most pressing health needs in Maricopa County. After analyzing data from community surveys and primary sources, the hospital published its findings in the 2019 Community Needs Assessment.

Access to care was found to be the leading issue throughout the county. The majority of survey respondents reported difficulties affording health care.

Many residents also lacked appropriate health insurance coverage. Increases in issues linked with behavioral health, such as substance use disorders and mental illness, were also a concern for county residents.

Finally, injury prevention, especially among children, was a key concern in the region. The assessment found an increased need for public health initiatives that would reduce preventable fatalities from accidents.