The secondaries vehicle exceeded its initial target by nearly three times.
Global head of Blackstone Strategic Partners Verdun Perry told Secondaries Investor in 2019 that debt secondaries was a strategy still too immature for serious consideration.
More capital was raised for secondaries in the first six months of this year than any other first half since the strategy's inception.
The firm’s second GP-led fund, which closed on $4bn earlier this month, is over four times the size of its predecessor.
Flexstone Partners Asia Selection III is now fully subscribed for by the firm’s majority shareholder, Natixis Investment Managers, and will invest its capital over the coming years, chief executive Eric Deram tells Secondaries Investor.
A North American pension fund is exploring commitments to six funds managed by Ares, Blackstone, HarbourVest, Macquarie, Pantheon and Partners Group.
The transactional nature of semi-liquid fund structures can place a lower importance on relationship building between investors and their managers, says Nicole Musicco.
Fund VIII is over 50% committed, with the firm expecting a final close in the middle of the year, CFO John Redett says on Carlyle's Q1 2025 earnings call.
SQ Capital’s fundraising could benefit from recent momentum in secondaries dealmaking, as GPs and LPs both seek a remedy to persistent illiquidity.
While Lexington's owner Franklin Templeton had previously forecasted a September first close for Fund XI, it has now extended its expectations out to later in fiscal year 2025 or early 2026.