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Fund committed $326m in capital during 2016 compared with $629.7m the year before.
NPM Alternatives is the latest effort to boost liquidity in the asset class and will initially focus on feeder funds.
StepStone tapped its latest secondaries fund to acquire George Kaiser Family Foundation's entire stake in the six-asset vehicle.
The Zurich-based firm has bought a stake in a fund which invests in energy efficiency, green industrial processes and waste management sectors. The fund also owns a geothermal plant producer.
The mid-market investment bank has opened its first office in Asia and appointed Benjamin Wiley to lead the expansion.
The London-based private investment firm sealed its first secondaries fund commitment earlier this year.
European family offices allocate about 25 percent of their portfolios to private equity, according to a report from Cebile Capital.
Funds of funds accounted for 37 percent of Elm Capital’s seller base during the second half of 2014.
The wealth management firm is targeting $40m for its 2015 Opportunities Fund.
Connection committed €3m to 17Capital III and will seek future fund commitments, said partner Claire Madden.

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