Alan Pardee, one of three managing partners who spun out of Merrill Lynch's private fund placement team in 2009, will join a Chicago-headquartered PE firm.
Secondaries Investor reported in May that the group was to make two senior hires, including its first dedicated secondaries professional in Europe.
The investment comes from Goldman's Vintage Real Estate Partners II, which closed in May on $2.75bn.
The investment unit of Canada's largest insurer has added two secondaries professionals to its New York-based team.
Headlands Capital was founded by former Paul Capital managing partner David Park and Hoover Investment Management executive David Cost.
The once niche strategy has gained traction in the face of stiff competition from banks and debt funds, data from the advisor's mid-year report show.
Fundraising for specialised vehicles including its fifth secondaries programme helped drive revenue in the quarter to June, according to the firm's latest results.
Deal volume will rise as distressed sellers and mainstream sellers adapt to an environment changed by the global pandemic, Jeremy Coller has said.
The placement agent and secondaries advisor has made two hires in its New York office who will work on secondaries and fund placement.
Buyers being cautious of imminent write-downs in H1 fuelled the lowest pricing since 2012, according to the advisor's latest mid-year report.