Capital Dynamics collects $150m for fourth secondaries fund – updated

Known limited partners in the fund include the Wayne County Employees' Retirement System.

Capital Dynamics has collected about $150 million for its fourth secondaries fund, Secondaries Investor has learned.

Capital Dynamics Global Secondaries Fund IV launched in early 2014 with a $350 million target and $500 million hard-cap. The fund is expected to raise a significant amount of capital from existing investors and to add new LPs from the US and Japan, a source with knowledge of the fundraise told Secondaries Investor last year.

Known limited partners in the fund include the Wayne County Employees’ Retirement System, according to PEI’s Research and Analytics division.

Capital Dynamics declined to comment.

The firm’ previous secondaries fund is a 2010-vintage that raised $276.6 million, surpassing its $200 million target. LPs include The University of Arizona endowment and the Lancashire County Pension Fund, PEI data disclosed.

Both funds invest in small secondaries transactions focused around private equity funds, with an ancillary interest in real estate and infrastructure funds, according to Capital Dynamics’ website.

This story has been updated to reflect the fact that Capital Dynamics Global Secondaries IV has collected about $150 million, not $107.9 million.