Theodore Cardos

Kirkland & Ellis International LLP


The most knowledgeable and experienced lawyer in secondaries. Very commercial. He’s able to use previous experience to solve issues.” - Chambers UK, 2024

Theodore Cardos is a private funds partner in the London office of Kirkland & Ellis International LLP. Theodore co-leads the European Liquidity Solutions Team, which is ranked Band 1 in the 2024 edition of Chambers UK. His practice primarily involves structuring, negotiating and documenting complex business transactions in the private funds secondary market, including traditional continuation vehicles, portfolio sales, structured secondaries, synthetic secondaries, stapled secondary offerings, preferred equity and fund recapitalizations. Representative clients include CapVest, HarbourVest, Hollyport, Landmark Partners, Lexington, Nordic Capital, Partners Group, Triton, Vitruvian and Waterland.

Theodore is most recently recommended by Chambers UK 2024 in the Investment Funds: Private Equity: Secondaries category, where sources say “he is a very commercial and technically excellent lawyer who knows the GP-led secondary market and issues inside out.” Market sources in Chambers UK 2024’s Band 1 ranking of Kirkland & Ellis’ Secondaries Practice state that Ted is “[t]he most knowledgeable and experience lawyer in secondaries,” that he is “[v]ery commercial” and “able to use previous experience to solve issues.” He was further recognised as a ‘Next Generation Partner’ by The Legal 500 UK 2024, and by Private Equity International in their list of “Future 40: The next leaders of private equity.”


Thought Leadership


Increasing Fund Investment Capacity during COVID-19,” by Ted Cardos and Jacqueline Eaves, guest blog in Apex Group, 2020

"Adhering to the guidance on GP-led secondary fund restructurings," by Ted Cardos and Andy Shore, guest post in IQ-EQ, 2019

"Navigating a successful fund restructuring: A balancing act," by Michael Belsley and Ted Cardos, a chapter in the book, The Secondaries Market - Strategies for buyers, sellers, fund managers and advisors, published by PEI (Private Equity International), 2016

Speaking Engagements

“The Evolution and Future of GP-Led Restructurings,” Private Equity Law Report Webinar, March 2020 

 Panellist, BVCA-GP-Led Secondaries Breakfast Seminar, December 2019 

Speaker, "GP-led Deals," Kirkland & Ellis Liquidity Solutions Academy, New York City, New York, November 6, 2019 

“GP transactions,” IBA Private Equity Transactions Symposium, November 2019

“Kirkland Liquidity Solutions Academy New York,” November 2019

“Winding to a Close panel,” Maples & Calder Investment Funds Forum, February 2019

“Have you Thought about Liquidity Options – Best Practices in GP-Led Secondaries,” Duff & Phelps 10th Annual European Alternative Investments Conference, November 2018


Admissions & Qualifications

  • 2011New York


  • New York University School of LawJ.D.2010
  • University of MissouriA.B.2002