Fundraising

A look into capital raising for secondaries strategies, including fund launches, hard-caps, fund closures and LP commitments to vehicles.

The Florida State Board of Administration has committed more than $1bn to the asset class in 2009.
Goldman Sachs is raising $300m and AXA is raising €600m to invest in LP stakes that are minimally funded.
The firm raised more than $1bn via two traditional private equity funds, while its listed fund of funds recently raised nearly $100m for fresh secondaries deals.
The pension will not look for new commitments for a while as it takes time to monitor the state of the private equity industry.
The superannuation fund has made its first foray into secondaries with a commitment to Partners Group Secondary Fund 2008, which is targeting €2.5bn.
The Swiss alternatives firm has gathered more than a third of the $750m target for its latest global secondaries fund.
The Swiss gatekeeper will manage the Korean sovereign wealth fund's nascent secondaries programme.
The New York- and London-based firm spent about a year fundraising for a vehicle that ended up ‘substantially oversubscribed’.
London-based 17Capital has inked its debut deal, providing €30m of mezzanine finance to Altamir Amboise, a French-listed vehicle linked to Apax Partners France.
The direct secondaries firm, which has begun fundraising for Cipio Partners Fund VI in the US, recently purchased 10 venture investments from 3i Group.
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