Graham Winfrey
Abu Dhabi Capital Management Secondary Private Equity Fund is 40% invested. The firm will raise a second fund focused on secondaries ‘in a few months’ with a $100m target.
The firm has closed its seventh fund on $7bn and has raised an additional $650m for Lexington Middle Market Investors II, a complementary vehicle to invest in ‘young’ private equity interests.
The Geneva-based hedge fund and private equity fund manager is also expecting to hold a first close for its Ethos Environmental Sustainability Fund before the end of June.
John Breen, head of funds and secondaries at CPPIB, also serves as vice chair at ILPA. It's unclear whether he will leave ILPA, which would be a 'huge loss', says ILPA executive director Kathy Jeramaz-Larson.
Munich-based senior principal Christoph Wedegaertner joined the direct secondaries specialist in 2005. The firm closed is sixth fund on €137m in January.
The secondaries firm has hired two deal sourcing agents in Mumbai as it looks to expand its presence in emerging markets.
The commitment is a re-up for Ohio, which committed $40m to the Jeremy Coller-led firm's fifth fund in 2006.
The Dallas-based firm has named Bernhard Engelien as a partner in London and has added two vice presidents, one in Dallas and one in New York.
The $14.2bn pension has committed to Lexington's seventh secondaries fund and Panda Energy's infrastructure fund in recent months.
The London-based secondaries investor is targeting European transactions between €5m and €50m.