10 largest funds in market are targeting $13.8bn

Landmark and Partners Group occupy the fundraising top spots going into 2018.

The 10 largest secondaries funds in market are seeking a combined $13.8 billion, according to data from Private Equity International.

Three 2016-vintage funds occupy the top spots. The largest of these is Landmark Private Equity Fund XVI, which in December passed the halfway point on its planned $4 billion fundraising, followed by Partners Group Real Estate Secondary 2017, which is targeting €2 billion. Hot on its heels is Landmark Real Estate Partners VIII, which is targeting $2 billion and the prize of largest real estate secondaries fund.

Of funds targeting North America only, the largest is managed by Chicago-headquartered RCP Advisors, which hit second close on its third secondaries fund in December.

There are four Asia-focused specialists in the market going into 2018, the largest of which is Asia Growth Capital Secondaries Fund I, managed by Singapore-based Credit Suisse spinout Asia Growth Capital Investors, which is seeking up to $500 million to invest in Asian direct secondaries.

The top 10 overall are listed below.

Fund name Fund manager Target ($) Vintage
Landmark Private Equity Secondaries Fund XVI Landmark Partners 4,000.00 2016
Partners Group Real Estate Secondary 2017 Partners Group 2,409.42 2016
Landmark Real Estate Partners VIII Landmark Partners 2,000.00 2016
Adams Street Global Secondary Fund 6 Adams Street Partners 1,200.00 2017
Portfolio Advisors Secondary Fund III Portfolio Advisors 1,000.00 2015
Metropolitan Real Estate Partners Secondaries Fund II Metropolitan Real Estate Equity Management 1,000.00 2017
Altamar Global Secondaries IX Altamar Private Equity 602.35 2016
Fondinvest X Fondinvest Capital 602.35 2016
Asia Growth Capital Secondaries Fund I Asia Growth Capital Advisors 500.00 2015
RCP Secondary Opportunity Fund III RCP Advisors 500.00 2017