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The firm aims to raise investment for a new Fund V while giving LPs such as Harbourvest and OPERS the option to exit Fund IV from 2006, sources say.
The Canadian pension has identified more than 75 private equity funds in need of restructuring after completing a review of 750 funds last year.
More information emerges from the JW Childs restructuring deal as CPPIB confirms details of its 'portfolio liquidity solution'.
The fundraising effort comes more than a decade after the firm’s Fund III raised $1.75bn.
The firm is busy deploying its third secondaries fund, which is expected to hold a second close by the end of August.
The $627bn sovereign wealth fund is ramping up its secondaries capabilities, and said to be on the hunt for good fund restructuring opportunities.
Four months of talks between GMT and its LPs to restructure GMT's Fund II are nearing a resolution, as GMT looks to get back on the fundraising trail to raise €400m for Fund IV.
The Canadian pension continues to be a dominant secondaries market player.
The global fund of funds’ figures show there are 200 funds over 10 years old with at least $100m of NAV. That's expected to be a key source of dealflow for secondaries investors.
New details have emerged on HarbourVest’s ‘rescue’ of Motion’s €1.25bn Fund II, one of the first major restructurings of a tail-end fund in Europe.
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