Two former senior executives at one of Europe’s most influential private equity investors have launched their own firm, hoping to take advantage of the need for liquidity in the buyout industry via the purchase of mature positions in private equity funds. The move comes despite record contraction among firms in the industry last year.

Christian Diller and Marco Wulff have co-founded Montana Capital Partners, a Swiss firm targeting acquisitions of second-hand private equity assets and debt and equity investments in private equity portfolios, according to a statement.