Warburg’s move comes as several other large GPs have built out internal secondary capabilities, including TPG and Leonard Green & Partners.
Pursuing both strategies via a single fund allows for better market timing and greater diversification, according to Montana Capital’s Marco Wulff and Eduard Lemle.
The Canadian pension giant was able to secure priority allocation and fill its intended exposure as the lead in the process, Secondaries Investor understands.
A diverse collateral mix of secondaries, portfolio finance and co-investments helped the Carlyle unit close above target on $1bn.
Secondaries investors expect pricing for GP- and LP-led deals to mostly increase or stay the same, with few expecting decreases.
Ardian, StepStone, Adams Street Partners and CPP Investments are LPs in the firm's debut buyside fund.
New entrants and pricing are driving deals and could spur record volume, global head of Blackstone Strategic Partners Verdun Perry tells Secondaries Investor.
Milan-based Ambienta is seeking a single-asset continuation fund, which will be classified as an Article 9 vehicle under the EU’s SFDR, Secondaries Investor has learned.
Pilot product helps LPs conduct cost-benefit analyses and lets smaller GPs act without advisers.
The firm has launched separate private credit and private equity vehicles focusing on mid-market opportunities.