Funds

The sale is expected to be the first in what could be a series of fund stakes offerings by the sovereign fund as it works to manage its portfolio.

Former Blackstone dealmaker Mustafa Siddiqui’s firm, which launched in January, completed its first CV with K1 Investment Management and has since made three further investments, Secondaries Investor understands.

The Geneva-headquartered manager’s sixth secondaries vehicle closed on €1.7bn and will target the mid-market.

Australian VC secondaries specialist SecondQuarter sees a multi-billion-dollar gap in the local market, managing partner Ian Beatty told Secondaries Investor.

Despite a growing number of new entrants, buyers aren’t concerned about increased competition in this abundant part of the market. How long can this last?

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 programme is one of the largest infrastructure secondaries platforms raised and follows Blackstone Strategic Partners' $5.5bn fund 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.