Fundraising

There has never been a better time for secondaries funds to deploy capital, Harold Hope, GSAM's global head of secondaries, tells Secondaries Investor.

The mid-market-focused firm is more than two-thirds towards the target of its third vehicle.

Whitehorse Liquidity Partners VI would be 13% larger than its predecessor, which closed on $5.3bn in July.

Our ranking of the biggest secondaries fundraisers reveals a market reaching an inflection point.

The firm also expects a final close on Hamilton Lane Infrastructure Opportunities Fund II this year.

Secondaries Infrastructure Solutions III will target an 11-14% net internal rate of return, according to documents prepared for a US public pension.

Carlo Pirzio-Biroli, managing partner and chief executive of the secondaries firm, says it is easier to attract investors who want to write larger tickets – a difficult proposition with smaller funds.

Secondaries Investor reported in February that Glendower Capital Secondary Opportunities Fund V was expected to close over the summer.

The vehicle, which is around 30% larger than its predecessor, has been in market for just over two years and is already one of the largest dedicated standalone funds for secondaries.

If it reaches its target, Clipway Secondary Fund would be one of the largest debut funds from a spin-out or newly established firm.