Fundraising

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.

The bank’s Strategic Partners team sweetened terms on its fifth secondaries fund, including not only committed capital, but fees and expenses that must be paid back to LPs, plus an 8% return, before the GP collects carried interest.

The bank’s Strategic Partners group has closed its fifth secondaries fund at a time of intense activity on the market from banks and public pensions selling chunks of their private equity holdings.

The firm’s fifth global secondaries fund could collect at least half of its $750m target by March, giving Adams Street hefty buying power in what is expected to be an intense deal environment during the first two quarters.

The Japanese private equity firm has attracted Japanese pension fund investments and expects to launch a successor fund for Greater China in 2012.

The Japanese private equity firm has attracted a number of Japanese corporate pension funds as it nears a final close on its third secondaries fund.

The long-time secondaries player will focus on several strategies, including developed Asian buyout funds, energy and consumer goods.