Funds

The fundraise is the private credit and real asset manager's first private equity secondaries endeavour.

Investor enthusiasm for secondaries is no secret, and it has manifested in some eye-popping fundraising figures.

The fund is one of the largest infrastructure secondaries funds ever raised and follows Blackstone Strategic Partners' $5.5bn close in August.

After more than three years on the road, the asset manager is already looking to launch a successor vehicle.

While the firm missed its $1bn target, the vehicle was almost double the size of its predecessor which closed on $456m in 2019.

The pension committed $500m to GP Solutions II's predecessor, marking the biggest commitment made to a secondaries fund last year.

Japan Private Equity Opportunity 2024 turned down overseas investors as it was oversubscribed by domestic LPs, WM partner Shohei Suzuki and AIC CEO Reijiro Samura tell Secondaries Investor.

The fund is the latest in a string of launches as the demand for credit secondaries grows.

The separately managed account will invest into two Lexington funds, as well as co-investment opportunities.

The fund will be split between fund investments and transactions, with 75% of the latter proportion going to secondaries deals.