Fundraising

The figure is four times larger than that sought by firms in January.

The move follows ODDO’s April acquisition of ACG Capital, the €1.8bn fund of funds and secondaries arm of ACG Group.

The close comes after a ‘strict and intellectually rigorous process’ to move assets from the group’s first fund, according to chief investment officer Carlo Michelini.

The French investment manager is seeking around €500m for Idinvest Secondary Fund IV, Secondaries Investor understands.

The pension fund is doubling down on its relationships with Ardian and Lexington due to the hot market and what it sees as a lack of differentiation between secondaries firms.

LPs can customise their allocations in the vehicle across strategies including as much as 20% to secondaries.

The secondaries giant is seeking $12bn for the secondaries pocket of ASF VIII, having raised $14bn for its predecessor across primary, secondaries and co-investment sleeves.

The vehicle's close comes two months after Secondaries Investor reported the firm and Ardian were the buyers of a portfolio from American International Group.

The investment firm will commit to Bridgepoint's latest credit fund as part of the deal, Secondaries Investor understands.