Lead investors on Hellman & Friedman’s deal are Ardian, HarbourVest Partners and Hamilton Lane, sources tell affiliate title Buyouts.
Four ways the AI and machine learning-focused firm is deploying its tech-enabled secondaries system in the LP portfolio market.
Pantheon Global Infrastructure Fund IV launched in 2021 with a $3bn target.
The large minority transaction is a rare example of a GP stakes purchase via a non-dedicated fund.
If it reaches its target, Clipway Secondary Fund would be one of the largest debut funds from a spin-out or newly established firm.
Abbott Secondaries Opportunities Fund III is slated for a first close next month, documents from a US public pension show.
GP-leds are of particular interest to the mainstream secondaries players, Tom Jorgensen, a managing director at North Sky Capital, said in a video interview at the Impact Investor Global Summit.
Details of the firm's Dover Street XI fund and HarbourVest’s Secondary Overflow Fund V were included in board documents for a US public pension plan this month.
Asia and Australasia secondaries accounted for around 4-5% of both LP-led and GP-led deal volume last year.
The firm is seeking 25-50% more for its latest offering compared with its debut vehicle, Secondaries Investor has learned.