Yuan-denominated funds have raised magnitudes more than dollar-denominated funds, though a lack of buyers has hindered the growth of a secondaries market.
The process, which was also backed by two co-investors, centres on a 2010-vintage fund with 10 assets across software, technology and healthcare sectors.
Secondaries funds have raised record amounts so far this year and a big Q4 is likely – take a closer look at the figures in our latest interactive report.
The GP-led process centred on Hightower Advisors is one of several large, concentrated processes in market as buyers make up for lost time.
Managing director Ben Wilson and director Alec Brown joined the $10bn asset manager from Pantheon in June last year after the departure of its secondaries co-heads.
The asset management giant's chief executive has said the strategy is a 'meaningful extension' for the firm.
China Ping An Insurance Overseas is the asset management and overseas investment arm of the world's seventh-largest listed company.
The listed arm of Intermediate Capital Group de-risked its portfolio by selling stakes in funds managed by IK, Graphite and Silverfleet, among others.
The firm has invested in deals including last year's Allied Universal single-asset process, among other concentrated, growth-oriented secondaries transactions.
The investment firm has collected 70% more for its latest fund than its 2015-vintage predecessor.