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|