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Fundraising
After a dip in 2015, secondaries fundraising is resurgent, as data from PEI Research and Analytics shows.
The firm raised the capital for its second fund in 18 months from 185 investors.
The fund's target is almost three times that of its predecessor, the 2013-vintage Lexington Middle Market Investors III, which closed on about $1bn.
Macroeconomic concerns have weighed on secondaries market participants' minds over the last 12 months and have had varied effects.
The banking group's Five Arrows Secondary Opportunities unit has also hired three staff this year including a secondaries executive from BEX Capital.
The firm has collected about half the €400m target for SwanCap Opportunities Fund III which can invest in direct secondaries.
The pension has committed $100m to a vehicle that will invest alongside the Carlyle unit's latest real estate-focused secondaries fund.
Secondaries investments made up 23% of investment volume, and a further 22% went into “select private markets managers”, the firm said.
The firm has raised €164m for Stafford Infrastructure Secondary Fund II, more than two-thirds of its target.
The firm has raised €350m and is hoping to raise a total of €400m by the end of the year.
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