Fundraising

Secondary Investments IV has a $20m hard-cap to stay within its niche, according to co-founder Sherif ElHalwagy.

The fund of funds unit of Standard Life Investments closed its third secondaries fund in October. Secondaries Investor speaks to its head of secondaries about the fundraise, investor expectations and negotiating a 'lumpy' market.

Baltimore Fire and Police is mulling a commitment to the vehicle.

The firm's latest secondaries fund, the $1.1bn Strategic Secondaries II, was 50% invested as of the end of September.

The pension plan’s strategy to reduce GP relationships to a core group has not delivered the benefits it expected.

Chinese pensions are expected to make a push into alternatives with a 6% allocation by 2030, according to a report by Casey Quirk, a Deloitte-owned consultancy.

The firm, which caters to investors from the non-profit sector, is seeking $350m for its latest vehicle.

The secondaries firm may also launch products in real assets and credit, according to parent company Old Mutual Asset Management.

The fund, which has been in the market since 2015, held its final close in June and is already 40% invested, Secondaries Investor has learned.

Endowment Wealth Management, a financial advisor from the American mid-west, has already bought six stakes in startups valued at more than $1bn.