Fundraising

The vehicle is closing on up to €6.7bn target on the back of a stapled deal with Lexington Partners over the summer.

The fund, which closed above its target of $2bn, has been in the market for just over a year.

The private markets firm is two-thirds of the way to the $500m target for Fund VIII which can acquire stakes in funds focusing on the strategy.

The US state's Retirement Plans and Trust Funds has committed $100m to the secondaries firm's latest private equity vehicle.

The niche firm, founded by a former AlpInvest Partners secondaries executive, raised the hard-cap on its oversubscribed sophomore fund.

The $30m commitment to ASF VII Infrastructure is part of a $1bn alternatives push by the US pension manager.

The San Francisco-based fund of funds manager will invest the bulk of capital in Asia-focused funds, while maintaining capital to make co-investments or secondaries transactions.

AESF VI will be nearly double the size of its predecessor, according to a document seen by Secondaries Investor that reveals details of the fund's investments.

The firm is more than 85% of the way to its target for Opportunities Fund III, which invests in direct secondaries in Europe and North America.

This is the $82bn pension's first investment with the private equity and real estate secondaries firm.