Silas Sloan

The largest proportion – $400m – went towards private equity secondaries, according to the firm's Q2 earnings presentation.

While this year has not seen a large-scale close, several funds with hefty targets remain in market.

Thiha Tun has predominantly advised on complex LP-led deals in recent months, several of which involved buyers using continuation funds.

There are 10 such vehicles in market, according to Secondaries Investor data, targeting at least $4.3bn between them.

PJT Partners expects private equity secondaries to see $75bn of volume in H2 2024.

The fund, which is seeking $750m, has already committed over $450m to new investment opportunities, according to documents prepared for a MWRA Employees’ Retirement System board meeting.

Fundraising in the first half dipped year-on-year to $34.5bn, with Hamilton Lane's $5.6bn close on Secondary Fund VI marking the largest raise in H1 2024.

The fund has invested nearly $3bn as of June, according to documents from the MWRA Employees’ Retirement System.

The firm hopes to surpass the size of its previous secondaries flagship, which closed on $22.2bn in 2023.

Tim Henn, who has joined from JPMorgan as head of private equity secondaries, tells Secondaries Investor the firm plans to invest in deals with GPs it knows through its platform.