Fundraising

The San Francisco-based firm is in the midst of raising Industry Ventures Partnership Holdings IV. It also recently hired an associate and is looking for a vice-president to focus on secondaries.

Total capital gathered in 2015 by closed-ended private equity vehicles with a focus on investments into secondaries looks set to fall short of 2014 fundraising levels.

The $1.4bn pension fund will likely make a commitment in the fourth quarter or in the first quarter of 2016 at the latest.

Not enough LPs wanted to sell their stakes in two existing funds managed by the Spanish firm, which is also looking to raise at least €400 million for its latest vehicle.

Investments will include secondaries, according to Edi Truell, head of the Strategic Investment Advisory Board established to advise the Lancashire and London Pensions Partnership.

Now owned by two executives who worked together at a US financial services firm, Paris-based Fondinvest is raising its fifth secondaries fund.

The Tokyo-based private equity firm is nearing the 30bn yen hard-cap for its latest secondaries programme, according to a managing partner at the firm.

The Swiss firm took just 10 weeks to raise its latest vehicle which will focus on niche secondaries deals, according to the firm.

LACERA is seeking to verify that costs associated with its private equity investments are aligned with its limited partnership agreements.

Partners Group Secondary 2015 closed on $1.5bn in May.