Fundraising during the first two quarters was led by Ardian’s $9bn AXA Secondary Fund VI, according to PEI’s Research and Analytics division.
Last month the firm absorbed real estate-focused Clairvue Capital Partners to create StepStone Real Estate, which now intends to raise its first fund.
Hong Kong-based NewQuest has been putting Fund II to work and is expected to have deployed 50% of its capital by the end of July.
The private equity arm of the Frankfurt-based bank is targeting $1bn for its Secondary Opportunities Fund III.
The $13bn Teachers Retirement System would pay a 1 percent management fee to the Landmark Real Estate Partners VII fund, which is targeting $1bn.
European funds on average aim to raise nearly 50% more than US peers, according to PEI Research & Analytics.
The direct secondaries firm has invested in a round of funding for Onzo, a company it acquired through a staple funding transaction in 2012.
Interest in the secondaries markets may grow as more primary investors cool their concerns, according to Steve Costabile, global head of private funds at PineBridge.
There are currently 42 secondaries funds in the market, targeting an aggregate total of $30.42bn, according to PEI’s Research and Analytics division.
The Nordic-based secondaries firm attracted 40% of its commitments from European investors including Swedish pension fund AP3, Finnish Industry Investment and the European Investment Fund.