Thirdpath, LLC (“Thirdpath” or “Firm”), a next-generation private markets solutions platform, today announced its public launch after its formation last year. Thirdpath is built to serve the evolving needs of institutional allocators by creating bespoke private markets investment solutions through Separately Managed Accounts (“SMAs”).
Founded by industry veterans and Managing Partners Brey Jones and John McGuinness, Thirdpath’s principles are rooted in partnership, alignment, and operational and regulatory expertise. The firm is employee-owned, with an organizational structure meant to foster agility and cooperation.
Thirdpath will serve as both an investment partner and an operational extension of its clients’ teams, with the Firm providing broad support from investment selection to performance reporting. The Firm currently specializes in allocating to private equity and private credit strategies. Thirdpath deploys its specialized technology to uncover differentiated opportunities across the investment landscape.
Jones and McGuinness previously worked together for nearly a decade at StepStone Group, a global private markets investment and advisory firm. Jones was a founding member of StepStone and Director of Client Service and Business Development playing an integral role in StepStone’s spinout from Pacific Corporate Group in 2007, and scaling the business to the $146 billion in assets at the time of his retirement in 2023.
Prior to co-founding Thirdpath, McGuinness served as the Global Chief Compliance Officer and Deputy General Counsel for StepStone, and previous to that role was a Vice President at Goldman Sachs. He began his career as an attorney serving asset management clients at Linklaters and Fried Frank.
“Many institutional allocators are currently at a crossroads with their private markets portfolios, contending with fewer distributions and undifferentiated investment options, while navigating increased operational complexity,” said Jones. “As allocators look to retool their private markets exposure in the current environment, they are looking for partners that can help create solutions more tailored to their organizations’ objectives. We believe that the aligned partnership model that Thirdpath is building can help get them there.”
At its launch, Thirdpath has assembled a team of senior investment professionals for its private credit and private equity strategies.
Leading the Alternative Credit team are Managing Partner David Ren and Senior Managing Director Brent Pasternack. Mr. Ren was previously a portfolio manager with Benefit Street Partners, while Mr. Pasternack was most recently Head of Private Credit Research at Nomura Capital Management.
The Buyout strategy team will be led by Senior Managing Directors Serina Yu and Tim Lee. Ms. Yu joins Thirdpath from Carlyle AlpInvest, where she was a Principal, while Mr. Lee was most recently Head of Technology Private Equity at PSP Investments.
“We are excited that investors of such great pedigree have joined us on our entrepreneurial journey,” said McGuinness. “This group’s extensive network of industry relationships and exceptional track record give Thirdpath the day one foundation to hit the ground running. Their reputations as great teammates and culture carriers at their prior firms will help strengthen a cohesive client-first culture that we are building at Thirdpath.”
About Thirdpath
Thirdpath is a next-generation private markets solutions provider, purpose-built to serve the evolving needs of our investing partners. The team is rooted with deep institutional experience, entrepreneurial agility, and regulatory expertise. Thirdpath combines proprietary technology, private markets expertise, and high-touch client services to deliver customized solutions across the private markets. Founded in 2025, Thirdpath is employee-owned, with a flat organizational structure that fosters agility and collaboration. For more information, visit Thirdpath’s website at Thirdpath.com.
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