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At the same time the firm launched an offshore vehicle with a life of less than a year.
Twenty-two LPs sold stakes to the secondaries house, which has made a staple commitment to BC Partners’ latest fund worth around 30% of the total.
The former captive unit of Deutsche Bank is no longer the parent company’s ‘neglected child’.
The Israel-based VC secondaries specialist has held the final close on its fourth dedicated fund.
The 80% invested fund has closed 26 secondaries deals.
The asset manager has confirmed a $1.1bn haul for the vehicle, three months after Secondaries Investor reported it had held the final close.
The firm is targeting $1bn for its third secondaries fund, which has a target IRR of as much as 20%.
The investment bank's analysis of the first half suggests that 2017 could break records on a number of fronts.
Clwyd Pension Fund, an active investor in secondaries funds, has committed $10m to the fund of funds unit of Standard Life's SOF III vehicle.
The use of subscription facilities by funds has seen its criticism, but the practice is not without its positives, write Thomas Smith and Almas Daud.
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