PineBridge Secondary Partners III has raised about $60m toward its $500m target, in the past year.
The advisor’s Euro Choice Secondary fund has already invested €35m in a European portfolio of 30 funds from Spain and Portugal.
Aberdeen head of secondaries Andrew McCaffery said investors are becoming more active in managing their indirect property portfolios.
The New York-based firm has already deployed 40% of Fund III's capital in 10 transactions, four of which have been with banks and financial institutions.
UK Real Estate Recovery II and Madison International Real Estate Liquidity Fund V closed during the first half of 2014.
Fundraising during the first two quarters was led by Ardian’s $9bn AXA Secondary Fund VI, according to PEI’s Research and Analytics division.
Last month the firm absorbed real estate-focused Clairvue Capital Partners to create StepStone Real Estate, which now intends to raise its first fund.
Hong Kong-based NewQuest has been putting Fund II to work and is expected to have deployed 50% of its capital by the end of July.
The private equity arm of the Frankfurt-based bank is targeting $1bn for its Secondary Opportunities Fund III.
The $13bn Teachers Retirement System would pay a 1 percent management fee to the Landmark Real Estate Partners VII fund, which is targeting $1bn.
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