Fundraising

The vehicle is targeting €1bn to focus on LP- and GP-led transactions as well as select co-investment opportunities.

Manulife Investment Management has held the final close for its debut vehicle, private equity-focused Manulife Strategic Secondaries Fund.

Including co-investment vehicles and SMAs, the firm’s LP secondaries strategy has received total commitments of $1.6bn.

The firm is seeing two- to three-times more secondaries deal flow than it had for the previous programme, Asia chairman Kevin Lu said at the Milken Institute Global Investor’s Symposium on Tuesday.

Golding Capital Partners also promoted head of secondaries, Richard Wilmes, to partner-level, a move that underscores the importance of secondaries investments to the firm.

CFES 2 is a multi-strategy impact fund, NPM has learned – the latest in a handful of climate and impact funds with secondaries strategies.

Goldman Sachs Asset Management's predecessor fund, which closed on $2.75bn in 2020, is the third-largest real estate secondaries fund to date.

Moonfare already has strong ties to the secondaries market, having partnered with Lexington in 2021 to help users sell their fund stakes.

The more ambitious goal may owe to an anticipated surge in secondaries investing, driven by pent-up demand, especially among cash-hungry LPs.

The firm is gearing up to launch its next fund and could target $1bn, Secondaries Investor understands.