The RMB fund targets Chinese LPs and aims to hold its first close this year.
The $19.1bn system looks to become the latest public pension to change rules to allow flexibility.
Lazard expects deal volume this year to approach or exceed 2021 levels as LPs and sponsors seek innovative liquidity options in the secondaries market.
Blue Earth’s secondaries strategy – part of its soon-to-launch multi-strategy fund – has just acquired a portfolio of fund stakes from a UK development finance institution.
The Morgan Stanley-advised process on ski resort Alterra Mountain was backed by investors understood to include Singapore's GIC.
The firm also closed on $1.5bn and $900m for its latest VC and real estate secondaries vehicles, respectively.
While many private markets investors and managers grapple with liquidity issues, there is one pocket of the market that stands to benefit.
Lexington Partners, Strategic Partners and Goldman Sachs Asset Management played a pivotal role in driving fundraising in the secondaries space last year.
A growing number of semi-liquid funds have a heavy allocation to secondaries.
The firm’s sixth secondaries flagship will be 'meaningfully' larger than its predecessor fund, according co-CEO Erik Hirsch.
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