Jonathan Costello

Managing Partner

Jonathan Costello founded Devon Park Advisors in 2021. Jonathan has 28 years of private markets and advisory experience, including over 20 years focused on the secondary market. His experience spans broadly across the following transaction types: (i) LP interest acquisitions/divestitures, (ii) GP led secondaries, (iii) LP or GP structured equity solutions, (iv) GP stakes, (v) blind pool primary commitments and (vi) direct, control buyouts. In total, Jonathan has advised or served as lead investor in 60+ GP led secondary transactions representing $20+ billion in transaction value. Since forming Devon Park, Jonathan has advised sponsor clients including Ashcroft Capital, Atlantic Street Capital, Avenue Capital, and Oaktree.

Prior to forming Devon Park, Jonathan was an Operating Partner at Stone Point Capital.

Prior to Stone Point, Jonathan was a Partner and Global Head of Secondary Advisory at PJT Park Hill. Jonathan led a team of 35 dedicated advisory professionals based in New York and London. Jonathan and his team advised on 36 GP led transactions in private equity, private credit, real estate, and infrastructure, including several of the largest single asset continuation vehicle transactions completed to date. Representative sponsor clients included Avenue Capital, Blackstone, Oaktree, Pretium Partners, Providence Equity, Revelstoke, Riverstone, and TPG.

Prior to PJT Park Hill, Jonathan was a Managing Director, Portfolio Manager and Head of the Morgan Stanley Alternative Investment Partners Private Equity (AIP) Secondary Team. Jonathan was a member of the five person, AIP global investment committee, which approved all investments and dispositions (primary, secondary and co-investment commitments) for commingled private equity fund of funds, dedicated secondary funds and other separately managed accounts. Jonathan was also a member of the AIP executive committee, which oversaw all aspects of the AIP business. Jonathan managed a team of 12 dedicated private equity secondary investment professionals based in Philadelphia, New York, and London.

Prior to joining AIP, Jonathan worked at Susquehanna International Group, where he led the firm’s investments in the private equity secondary market. Previously, he founded and led the secondary advisory business at SSG Capital Advisors, where he represented insurance companies, corporate, and family office clients in private equity secondary transactions. Before that, Jonathan worked with Safeguard Scientifics, where he was responsible for managing the firm’s private equity fund portfolio and sourcing, conducting due diligence, and structuring direct private equity investments in software and information services companies.

Jonathan received a B.S. in finance from Boston College