Fundraising

The Carlyle subsidiary has hit the hard-cap on ASP VII and raised $1.2bn for co-investments, with support of LPs such as the California Public Employees' Retirement System.

Demand among buyers and LPs’ desire to manage their portfolios in the wake of covid-19 point to healthy transaction secondaries volumes in the year ahead.

The firm is also expanding its regional footprint with the opening of an office in Shenzhen, Secondaries Investor has learned.

The number of funds coming to market openly offering discounts for early-bird commitments or big ticket sizes is dropping, according to research seen by sister title Private Equity International.

Managing partner Daniel Benin discusses the firm's €1.6bn fundraise and how the new economy brought about by covid-19 will manifest in the secondaries market.

The Spanish fund of funds manager beat the target of its debut Arcano Earth Fund, which is already almost 90% deployed.

The firm, which last week closed the sale of a minority stake in Pensions Insurance Corporation to a UK family office, will begin marketing Keyhaven Secondaries Fund III next year.

The firm is among a group of mid-sized buyers that focus on lower-mid-market and mid-market secondaries deals.

The asset manager's predecessor fund raised $568m to invest in small- and medium-sized funds in developed and emerging markets.

The firm has held the final close on its latest secondaries vehicle, which is already 20% committed to deals involving GPs such as Thomas H Lee Partners and Clearlake Capital Group.