The small buyout specialist's latest secondaries vehicle surpassed its $1bn target and will invest in both LP- and GP-leds.
While '40 Act funds haven't yet moved market pricing in GP-led deals, these evergreen funds are 'certainly are participating and creating syndicate demand', Baird's GP solutions group co-head Jeremy Duksin tells Secondaries Investor.
GP-led deals will be a common staple within the small- and mid-cap markets, where there is more runway for company growth, head of secondaries Richard Wilmes told Secondaries Investor on the back of the firm's over €510m raise.
A conversation with a secondaries player about an LP commitment sparked the former Cinven dealmaker's idea to launch a tertiary platform.
The fund has increased its secondaries budget to capture opportunities arising from market uncertainty, says private equity head Yasuyuki Tomita.
The firm recently closed its latest credit secondaries programme on $6.8bn, including its credit evergreen offering for US investors.
The firm is looking to double the size of its ‘small but mighty’ secondaries team in the next 18 months.
The firm’s second GP-led fund, which closed on $4bn earlier this month, is over four times the size of its predecessor.
After several $1bn-plus GP-led credit deals were closed last year, Antares Capital's head of credit secondaries Olga Kosters expects several more to close in 2025 as GP interest grows.
Stafford plans to allocate 80% of its latest $1bn+ timberland fund to secondaries, chief executive Angus Whiteley told Secondaries Investor.