Fundraising

The venture secondaries firm plans to use equity investments and structured financings, and will deploy capital via GP- and LP-facing transactions.

Capital raising for private equity secondaries strategies plummeted 77% year-on-year for the three months to end-March, according to PEI data.

Head of secondaries Cari Lodge tells Secondaries Investor about deployment plans for the firm’s fourth secondaries vehicle, which closed on $1.1bn earlier this month.

The vehicle is targeting €1bn to focus on LP- and GP-led transactions as well as select co-investment opportunities.

Manulife Investment Management has held the final close for its debut vehicle, private equity-focused Manulife Strategic Secondaries Fund.

Including co-investment vehicles and SMAs, the firm’s LP secondaries strategy has received total commitments of $1.6bn.

The firm is seeing two- to three-times more secondaries deal flow than it had for the previous programme, Asia chairman Kevin Lu said at the Milken Institute Global Investor’s Symposium on Tuesday.

Golding Capital Partners also promoted head of secondaries, Richard Wilmes, to partner-level, a move that underscores the importance of secondaries investments to the firm.

CFES 2 is a multi-strategy impact fund, NPM has learned – the latest in a handful of climate and impact funds with secondaries strategies.

Goldman Sachs Asset Management's predecessor fund, which closed on $2.75bn in 2020, is the third-largest real estate secondaries fund to date.