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The German manager is seeking up to four years to be able to maximise the value of its remaining assets, Secondaries Investor has learned.
The fund is targeting $400m to invest in less competitive areas of the market, such as secondaries funds and funds of funds.
Will Smalley joined in July after nearly four years at Coller Capital.
The Connecticut-based firm is returning to the market with its second fund, targeting $300m.
At the same time the firm launched an offshore vehicle with a life of less than a year.
The Pennsylvanian pension scheme wants to clarify the impact of manager fees on returns and increase the transparency of fee reporting.
The Israel-based fund of funds has just closed its fourth secondaries fund on $215m. Co-founder Alan Feld discusses the opportunities he is seeing in the market and how secondaries investors need to do more for the companies and GPs they work with.
The volume of fund of funds stakes traded on the secondaries market increased by 289% compared to FY2016, one of a number of big increases.
The €325m, 2008-vintage Halder-GMIV Germany II contains seven small- and mid-market assets.
The stakes were offloaded by Norinchukin Bank, a Japanese co-operative.