Funds

Senior execs have been working to spell out why secondaries mark-up practices make sense following public scepticism from peers.

The firm will lower fees during funds’ investment periods and then increase them after the period, according to head of strategy Michael McCabe.

Secondaries Investor’s inaugural survey of LPs, secondaries buyers, GPs and advisers offers a complete view of the market and the direction it’s heading in. Conducted in partnership with Goodwin.

A replacement for global head of the PCA group, which will continue to operate as usual, has not been named, Secondaries Investor understands.

Tikehau's second credit secondaries-focused fund closes on more than $1bn having launched in the second half of 2023.

The fund, which remains in market, has exceeded its target by more than $1bn and already marks a significant step up from its $5.8bn predecessor.

The close of MCP Opportunity Secondary Program VI follows a rejig of Montana's senior leadership last year.

The firm's inaugural credit secondaries closed-end fund reached $4bn with the programme totalling $7.1bn, marking it the firm's largest inaugural fundraise, CEO Michael Arougheti says.

Strategic Partners has held an initial close of $5bn for Strategic Partners Fund X with 'another major close' expected in the coming weeks, Blackstone's president and COO Jon Gray said on the firm's earnings call. Its $22.2bn Fund IX had committed $19.7bn by year-end 2025.

The vehicle surpassed its target by €350m, making it the Spanish firm’s largest secondaries fund to date.