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Four secondaries funds close during Q2

There are currently 42 secondaries funds in the market, targeting an aggregate total of $30.42bn, according to PEI’s Research and Analytics division.

The number of secondaries funds in market and their aggregate fundraising target declined slightly during the second quarter thanks to a number of fund closes, according to PEI’s Research and Analytics division.

Currently, there are 42 secondaries funds in market targeting an aggregate total of $30.42 billion, compared to 46 funds that targeted $36.38 billion during the first quarter.

The number of global secondaries funds in market fell from 20 to 17 quarter-over-quarter, after Ardian closed its AXA Secondary Fund VI on a record-setting $9 billion and Pomona Capital held a final close for its eighth fund on $1.75 billion in mid-April. Northleaf Capital Partners also closed its debut secondaries fund on $255 million in May.

The 17 global funds in market are targeting an aggregate total of $23.76 billion. The largest fund is Lexington Partners’ eighth fund, which has an $8 billion target, followed by The Blackstone Group’s Strategic Partners Fund VI, which is targeting between $3.5 billion and $4 billion.

In the Americas, the number of funds in market edged down from 13 to 12 once Montauk TriGuard closed its sixth fund on $500 million in early May.

The number of funds in market in Europe and Asia-Pacific remained the same quarter-over-quarter, with eight funds targeting roughly $2.77 billion and five funds targeting roughly $1.07 billion, respectively.

No new funds launched in any region and no funds have launched this year in the Middle East and Africa.