Stephen Grau joined TIFF in 2026 as a senior member of the Private Markets group, focusing on all aspects of the firm’s secondary investment strategy, including sourcing, underwriting, ongoing portfolio construction, and capital raising.

Prior to joining TIFF, Stephen spent over a decade in the secondaries market as both an advisor for and principal investor in LP- and GP-led transactions. Most recently, he was a Senior Vice President at Jefferies and, before that, Lazard Freres & Co., where he advised general partners and institutional investors on a variety of watershed secondaries transactions totaling over $11 billion of new equity capital. Stephen started his investment career on the Private Markets team at Morgan Stanley Alternative Investment Partners (AIP), underwriting middle-market secondary transactions.

Stephen received a Bachelor of Business Administration in Finance and graduated summa cum laude with Beta Gamma Sigma honors from The College of William & Mary.