Fundraising

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.

The management team of Glouston Partners bought it out of $22bn hedge fund and private equity manager Permal Group in 2016.

The €46bn asset manager launched Strategic Equity IV in early November due to faster-than-expected deployment of its current vehicle.

The process carried out by Antin Infrastructure Partners gives more capital to fast-growing assets in its 2016-vintage Fund III, including three fibre companies.

It follows pension’s $300m investment in Ardian's ASF VIII in June, its first commitment to a secondaries fund in more than a decade.

Stephen Sloan, former head of private capital advisory at Greenhill, will lead the effort alongside another senior hire.

The fund is the 'primary driver' of growth in fee-earning assets under management among the firm's commingled funds, vice-chairman Erik Hirsch said on an earnings call Wednesday.

The alternatives manager is raising the Special Opportunities fund alongside its flagship secondaries vehicle, which is targeting $3.75bn.

Secondaries Investor reported in November that the Carlyle Group unit was targeting $8bn for its latest secondaries programme.

Alternatives has more than $6trn in assets under management, and only about $100bn of that trades hands in secondaries, according to the firm's president Jonathan Gray.