Funds

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.

Mid-Market Secondaries III, the successor to co-investment and secondaries-focused vehicle Select Opportunities Fund II, reached its target.

The firm is fresh off raising its largest fund ever, StepStone Secondary Opportunities Fund V, which totalled $7.4bn across its entire programme.

Pricing for high-quality inflection assets with material upside has tightened to the low- to mid-90s, according to chief executive David Layton.

The Singapore-based fundraising platform is seeking to co-launch a secondaries fund alongside experienced GPs that will target individual investors.

Decision-making can be a resource-intensive process, although it is one that LPs are becoming more familiar with.