The CV includes follow-on capital to 'capitalise on a strong pipeline already in place', according to a statement shared with Secondaries Investor.
The manager has secured more than $650m across a global program focused primarily on GP-led secondaries but seeded with an LP-led fund portfolio.
Secondaries funds have been targeting around 15-20% of SaaS exposure in LP-leds when previously it was sometimes as high as 40%, attendees heard at PEI Group’s Women in Private Markets Summit North America.
Market participants have a keen eye on fees and expenses related to GP-led deals given many LPAs were not drafted with these transactions in mind.
The former investment principal, who covered secondaries transactions in India, Australia and Southeast Asia, joined the firm in 2011 in London.
Evercore and HEC Paris's fifth CV performance study includes 396 CVs formed between 2018 and 2024, a significant increase on the 140 funds analysed in the inaugural report.
The fund primarily focuses on LP-led deals in the North American mid-market.
Mid-life investments can offer a solve to generate liquidity and realisations, stepping into the place of CV deals that can be complicated where co-investors have backed an asset, Neuberger's head of European PE Joana Rocha Scaff says on the latest edition of PEI Group's Commitment Issues podcast.
A white paper by Carlyle AlpInvest estimates there was $20bn of credit secondaries dry powder at the start of 2026, offering six to nine months of deployment runway at current deal velocity.
Secondaries are evolving from a problem-solving backstop into a strategic tool for North American LPs navigating liquidity constraints and portfolio complexity.