There's a new type of entrant to the secondaries buyside, and it's not your typical buyout-come-secondaries firm.
The firm hopes to surpass the size of its previous secondaries flagship, which closed on $22.2bn in 2023.
Tim Henn, who has joined from JPMorgan as head of private equity secondaries, tells Secondaries Investor the firm plans to invest in deals with GPs it knows through its platform.
The firm has appointed five managing directors across its secondaries and placement agent businesses.
Private Equity Strategic Opportunities Fund V is aiming to deliver a 1.8x-2x multiple for investors.
Details for Patria Secondaries Opportunities Fund V show the vehicle is planning at least two closes this year.
NewView was spun out of Silicon Valley venture giant NEA in 2018 through a $1.35bn secondaries deal backed by Goldman Sachs and Hamilton Lane.
Pricing for high-quality inflection assets with material upside has tightened to the low- to mid-90s, according to chief executive David Layton.
New and existing VC secondaries players have raised billions in fresh capital as liquidity needs show no signs of slowing.
Secondaries Investor reported in May that CVC Secondary Partners and Pantheon were leading the transaction around TIC asset Normec.