The Nordic direct secondaries specialist has invested 40% of its 2016-vintage fund, Secondaries Investor has learned.
Some 15% of private capital executives saw a decrease in their year-on-year base salary in 2017, significantly higher than the 1% who reported a similar change last year.
The deal involves the Polish private equity firm's 2010-vintage fund and investors have the option to sell or roll over into a new vehicle, Secondaries Investor has learned.
RCP Secondary Opportunity Fund III, which launched in July with a $500m hard-cap, will focus on lower and mid-market North American funds.
The $104bn US pension has acquired interests in eight funds, having previously been an active seller on the secondaries market.
The transition away from tail-ends and GP-led restructurings is already happening, said Pal Ristvedt at BVCA's annual conference.
Secondaries have under-performed the All Funds index across all timeframes under review, according to the LP association.
The buyout firm is no longer proceeding with its proposal to move assets from Apax Europe VII into a continuation vehicle, Secondaries Investor has learned.
The firm's main business is giving Canadian investors low-cost access to KKR funds through a Canada-domiciled vehicle.
Law firm Kirkland & Ellis has elevated Jaclyn L. Rabin and Paul Mysliwiec to the position of partner as part of a raft of promotions.