West coast-based Margaret McKnight had left the Carlyle Group real estate subsidiary in September last year after nearly 14 years.
ICG underwrote nearly half the transaction on Curium Pharma, an asset described as 'cream of the crop' by one secondaries buyer.
The Spanish fund of funds manager beat the target of its debut Arcano Earth Fund, which is already almost 90% deployed.
Sellers pushed on with secondaries sales despite the crisis and dealflow is likely to remain strong into December, according to Jared Barlow, a partner at the firm.
The firm, which last week closed the sale of a minority stake in Pensions Insurance Corporation to a UK family office, will begin marketing Keyhaven Secondaries Fund III next year.
Medical devices business Confluent accounted for a majority of NAV in a transaction involving Ampersand Capital Partners.
The rise of GP-led deals has highlighted the importance of liability protection, bringing warranty & indemnity insurance into the secondary market, say insurance broker Lockton and law firm Akin Gump.
The firm is among a group of mid-sized buyers that focus on lower-mid-market and mid-market secondaries deals.
The asset manager's predecessor fund raised $568m to invest in small- and medium-sized funds in developed and emerging markets.
The firm has added 29 staff this year, including two from British Columbia Investment Management Corporation and Citco Canada.