Secondaries
Fund focus: Lexington targets growing Asia secondaries market
Having closed its ninth fund at $14 billion, Lexington Partners is hunting for assets in a secondary market that is becoming ever larger and diverse. Asia is on the agenda, whether it’s GP-led restructurings or LP portfolios
NewQuest collects $1b for Asia secondaries fund
NewQuest Capital Partners has closed its fourth secondaries fund at the revised hard cap of $1 billion, comfortably exceeding the $540 million raised in the previous vintage.
HarbourVest spins out part of Norwest's India portfolio
HarbourVest Partners has spun out part of the Norwest Venture Partners India portfolio into a new fund to be managed by Avataar Venture Partners.
TR targets $300m for fourth fund
Hong Kong-based secondaries specialist TR Capital is seeking to raise $300 million for its fourth private equity fund.
NewQuest seeks $850m for fourth Asia secondaries fund
NewQuest Capital Partners, an Asia-focused secondaries specialist in which TPG Capital acquired a minority stake last year, has set a target of $850 million for its fourth fund.
Hong Kong's Ion Pacific raises $30m for PE secondary fund
Hong Kong-based merchant bank Ion Pacific has raised $30 million for a technology fund that will acquire secondary positions in venture and growth funds as well as take direct stakes in portfolio companies.
LP interview: Korea's POBA
Korea’s Public Officials Benefit Association is expanding its private equity exposure and global footprint. Maintaining this diversification within the firm’s traditional risk profile requires a gradual approach
TPG buys stake in Asia secondaries specialist NewQuest
TPG Capital has agreed to take a minority stake in Asia-focused NewQuest Capital Partners, with a view to helping the secondaries specialist scale up its platform and address a wider variety of opportunities in an expanding yet underpenetrated market....
Fund focus: HQ prepares for Asia secondary surge
Having raised $250 million for an Asia secondary fund, HQ Capital remains the only global multi-strategy firm with a vehicle dedicated to the region. It expects a significant uptick in deal flow over the next few years
HQ raises $250m for Asia secondaries fund
HQ Capital has closed an Asia-focused secondaries fund at the hard cap of $250 million as part of an oversubscribed global fundraising drive that has received $674 million in third-party commitments.
HarbourVest closes flagship fund-of-funds at $1.7b
HarbourVest Partners has closed its latest fund-of-funds targeting European and Asian markets with $1.7 billion in commitments.
SL Capital raises $428m secondaries fund
SL Capital, a private markets arm of Aberdeen Standard Investments, has raised $428 million for its third private equity secondaries fund, surpassing the target of $400 million.
LP interview: LGT Capital Partners
LGT Capital Partners sees Asia as a misunderstood investment destination among Western LPs due to unfounded concerns about the risk of the region. Local connections are key to building a strong strategy
LP interview: Ardian
Ardian has raised large amounts of capital on the basis of a big-ticket secondaries strategy. Jan Philipp Schmitz, a managing director with the firm, discusses where investor demand is heading
NewQuest opens India office
Dedicated Asia secondaries investor NewQuest Capital Partners has opened an office in Mumbai, its third in the region. The firm has invested $200 million in India over the last two years and expects its investment pace to increase in the near term.
Hamilton Lane raises its largest-ever global secondaries fund
Hamilton Lane has closed its latest global secondaries fund at $1.9 billion. It is the largest secondaries vehicle the firm has ever raised, coming in at more than twice the size of the previous fund.
Unigestion acquires European rival Akina
Switzerland-based wealth management firm and PE fund-of-funds Unigestion has acquired the Europe-focused private equity business of its rival Akina Partners.
Axiom raises $1b for fourth Asian fund-of-funds
Axiom Asia has closed its fourth pan-regional fund-of-funds at just over $1 billion, sticking to its tried and tested model of a single co-mingled vehicle with no separately managed accounts. The initial target was $750 million.
Neuberger Berman raises $2.5b for global secondaries fund
Neuberger Berman has closed its fourth global private equity secondaries fund at $2.5 billion, surpassing the target of $2 billion after nine months in the market.
HarbourVest closes global secondaries fund at $4.8b
HarbourVest Partners has reached a final close of $4.8 billion on its latest global secondaries fund, beating the target of $3.6 billion.
Hamilton Lane closes global fund-of-funds at $516m
Hamilton Lane has closed its latest global fund-of-funds at $516 million, exceeding a target of $400 million on the back of strong international investor interest.
Korea's GEPS seeks offshore secondaries managers
South Korea’s Government Pension Investment Service (GEPS) is looking to make two commitments – of $50 million apiece – to overseas GPs operating co-mingled global secondaries funds.
NewQuest reaches first close on Fund III, hires ex-CVC executive
Direct secondaries specialist NewQuest Capital Partners has reached a first close of just over $500 million on its third fund, beating the initial target for the entire vehicle.
India's VC-backed Tracxn launches start-up exit platform
Tracxn, an India-based start-up data analytics platform backed by SAIF Partners, has launched an online platform to help angel investors find exit opportunities from start-ups.