Many GPs have been seeking ways to sort out assets lodged in older funds, with limited partners increasingly seeking liquidity.
The firm is seeking to raise $300m for the strategy, head of private equity partnerships Nicolas Muller tells NPM.Â
The promotions bring the firm’s total number of partners to 28, according to a statement.
The fund, the manager’s largest inaugural institutional fundraise, doubled its $2bn equity target.
The energy-focused firm's latest $300m secondaries vehicle will target oil and gas, avoiding renewable energy.
The vehicle surpassed its target by €350m, making it the Spanish firm’s largest secondaries fund to date.
The majority of GP-led deal volume today is in the mid-market, says the investment firm's global head of PE secondaries.
The firm hauled in $17bn across secondaries funds, evergreen vehicles and separate accounts in latest fundraising cycle.
The firm, which closed its first vehicle in the series just three years ago, now has raised one of the largest funds ever in the strategy.
Vehicles focused on the strategy collected nearly $166bn through final closes last year, marking a 48% increase on the prior biggest fundraising year.