Fundraising

The lower-mid-market-focused manager had set a $650m hard-cap on RCP Secondary Opportunity Fund IV.

Venture capital and growth fund stakes fell to account for 9% of secondaries volume last year, from 18% the prior year.

Newbury Equity Partners VI's moderate step-up in ticket size is consistent with Newbury’s longtime focus on small and mid-cap secondaries deals.

Private Equity Opportunities III closed on $738m and includes $100m for new commitments.

StepStone Secondary Opportunities Fund V launched in May last year.

The firm is understood to be pushing ahead with fundraising even amid the tougher environment.

The firm is seeking €1.3bn for ACP Secondaries 5, having launched the vehicle in the first quarter of this year.

The firm, which closed its Pantheon Credit Opportunities Fund II in May, sees around 70% of dealflow coming from LPs, according to global head of private credit Rick Jain.

CRPTF's investment advisory committee approved $350m in commitments, split equally between HarbourVest’s latest flagship secondaries fund and a connected co-investment vehicle.

More capital was closed on for private equity secondaries in the first quarter of the year than for any other strategy outside of buyouts.