Fundraising

The $122.5bn pension system has committed to Ares Management, Warburg Pincus, RCP Advisors, AXA PE and Crescent Capital as it works to deploy $6bn over the next three years.

A recent SEC filing shows that Goldman Sachs has at least $1.2bn for the latest in its Vintage Fund series, which have typically focused on secondary assets.

The global investment advisor’s previous secondaries vehicle collected $591m toward a $600m target in 2009.

The Swiss group is currently highlighting real estate secondaries, senior debt and preferred equity investments in its investment thesis as it more than doubles the size of its last vehicle in a global series.

The firm’s tenth fund is targeting $500m more than its ninth and largest fund, which closed above target on $1.65bn in 2008.

Paris-headquartered AXA Private Equity has finally capped its fifth secondaries fund at $7.1bn with an additional sidecar of $900m, making it the biggest pool of capital for buying up limited partner stakes yet raised.

The Chicago-based firm has launched its second secondaries fund, which will target limited partner commitments of less than $25m in funds that are more than 30% invested.

The $5.8bn retirement system was attracted by the firm’s strong performance on its previous fund and limited use of leverage.

The San Francisco-based firm, which once raised the largest-ever real estate secondaries fund, has ceased efforts to market its fifth vehicle as it considers options for a shift in strategy.

Among the $12.3bn pension’s four commitments was a $30m allocation to Coller Capital’s $5bn sixth fund, which is expected to hold a final close soon.