Silas Sloan

Two deals made up nearly half of the firm’s total secondaries investment volume last year.

The largest proportion – $400m – went towards private equity secondaries, according to the firm's Q2 earnings presentation.

While this year has not seen a large-scale close, several funds with hefty targets remain in market.

Thiha Tun has predominantly advised on complex LP-led deals in recent months, several of which involved buyers using continuation funds.

There are 10 such vehicles in market, according to Secondaries Investor data, targeting at least $4.3bn between them.

PJT Partners expects private equity secondaries to see $75bn of volume in H2 2024.

The fund, which is seeking $750m, has already committed over $450m to new investment opportunities, according to documents prepared for a MWRA Employees’ Retirement System board meeting.

Fundraising in the first half dipped year-on-year to $34.5bn, with Hamilton Lane's $5.6bn close on Secondary Fund VI marking the largest raise in H1 2024.

The fund has invested nearly $3bn as of June, according to documents from the MWRA Employees’ Retirement System.

The firm hopes to surpass the size of its previous secondaries flagship, which closed on $22.2bn in 2023.