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Secondaries GPs raising $36.4bn

PEI Research & Analytics has revealed the profile of secondaries funds launching and currently in the market in the first quarter of 2014

There are 46 funds aiming to raise a collective $36.4 billion for secondaries investment, according to PEI data through the first quarter of 2014.

Source: PEI data

Forty private equity secondaries funds are raising $33.2 billion of this total, while six private real estate funds are targeting $3.2 billion.

Thirteen of the secondaries funds in market are focused on the Americas targeting $3.3 billion; five are active in the Asia-Pacific region, targeting $1.1 billion; eight are active in Europe targeting $2.8 billion and 20 have a global focus, targeting $29.3 billion in total, according to PEI research.

In April, Secondaries Investor reported that private equity secondaries funds raised $2.3 billion in the first quarter, with Newbury Equity Partners III, Portfolio Advisors Secondary Fund II, Azini III and Rosetta Capital Fund V all closing in Q1.

Source: PEI data

A report from advisory firm Evercore estimated $30.2 billion of dry powder was to be raised this year. Evercore interviewed 70 market participants (excluding sovereign wealth funds), of which 33 buyers indicated they would be raising secondaries-focused capital.

In March, Secondaries Investor reported that secondaries firms, such as Committed Advisors and Hamilton Lane, were seeing around $10 billion of dealflow in Q1.