Private equity volumes dropped by 58.5% and real estate by 53.4%, with infrastructure showing resilience, according to Setter Capital.
The portfolio acquired from a sovereign wealth fund is probably the largest-ever infrastructure sale, said Blackstone COO Jon Gray.
With $3.75bn in hand, Blackstone’s Strategic Partners is targeting stable assets in a range of sectors from a year to 10 years of age.
The deal is one of only a few that have proceeded through the pandemic downturn, which otherwise has stopped most secondaries deal activity.
In 2017, CEO Hans Swildens said Industry Ventures' funds would only exceed $500m if there was 'a massive downmarket correction'.
Vertex Holdings is offering liquidity options on multiple funds in a deal that could be worth as much as $500m.
The close of Strategic Partners' latest real estate secondaries fund has led Secondaries Investor to revise its fundraising figures.
Strategic Partners Real Estate VII has raised $600m more than its predecessor and is looking at a strong pipeline of GP-led deals.
Mill Reef Capital has made five appointments since its founding last year by ex-Schroder Adveq secondaries head Nico Taverna and Gregor Hasler of LGT Capital Partners.
The advisory firm has hired a vice-president from Campbell Lutyens, having appointed an Asian secondaries head in March.