Fundraising

The firm's latest dedicated secondaries fund is almost halfway toward its $1bn target, Secondaries Investor has learned.

The global investment firm is seeking double the target of its predecessor secondaries fund, according to documents from a US pension which also revealed the fund's terms.

Good secondaries dealflow saw the predecessor fund's allocation to the strategy raised to 51%.

Galdana Ventures I had an initial hard-cap of €250m and will be able to make secondaries purchases, Secondaries Investor has learned.

The Spanish firm has also closed its eighth FoF, from which it has already made secondaries deals.

The fund of funds manager has received commitments from four investors.

The $18bn pension has made a commitment to Stepstone Secondary Opportunities Fund III that is five times larger than the investment in the firm's predecessor vehicle.

The global investment firm has raised $3.9bn and held an interim close on its latest dedicated secondaries fund.

Stéphanie Courtadon, a marketing veteran of mid-market GP Siparex and Crédit Agricole Private Equity, will run the firm’s RFP processes.