A stake in CD&R's 2018-vintage fund sold for 124% of NAV, according to a survey of 52 transactions by Palico, with average pricing of 98.5%.
The secondaries pioneer's Beijing office opened in March and is led by Hong Kong-based partner and head of Asia Peter Kim.
The above-target close is the culmination of a multi-year rebuilding process at the German asset management giant.
The secondaries giant was expecting a first close on its LCP X flagship in the third quarter of this year, documents seen by Secondaries Investor show.
The private investment arm of the EU has collected €100m for secondaries and is set to sell a portfolio of stakes next year.
The deal marks the second time in four months a large global investor has taken outside capital to free up its balance sheet.
Adding secondaries capabilities to the private equity giant's suite of offerings is not a 'have-to-do', according to co-chief executive Scott Nuttall.
The financial services holding company, which has $1.5trn in AUM, is paying $1.75bn for one of the largest remaining independent secondaries firms.
The firm, founded by Tony Cusano, has raised $1bn to invest in special situations, distressed and credit secondaries opportunities.
Several firms have added secondaries capabilities, either by building in-house groups or acquiring outside firms, like Ares Management, which bought Landmark Partners earlier this year.