Abu Dhabi Capital Management Secondary Private Equity Fund is 40% invested. The firm will raise a second fund focused on secondaries ‘in a few months’ with a $100m target.
The firm has closed its seventh fund on $7bn and has raised an additional $650m for Lexington Middle Market Investors II, a complementary vehicle to invest in ‘young’ private equity interests.
The Marleen Groen-led firm won a mandate from the IFC to raise up to $500m for a secondaries fund that will target private equity in emerging economies.
The US state's investment board has committed more than two thirds of newly-deployed capital to private equity funds specialising in the energy sector.
The secondaries firm, which began fundraising in early 2008, has closed on $5bn and is expected to hold a final close by 30 June.
The Geneva-based hedge fund and private equity fund manager is also expecting to hold a first close for its Ethos Environmental Sustainability Fund before the end of June.
The Japanese fund of funds manager is in the market for a third Asian vehicle targeting secondaries opportunities in the region. It has a target commitment of up to $200m.
Alpha Associates is raising its debut fund targeting $100m to $150m for mature fund interests in Russia and former Soviet Union countries, says managing partner Petra Salesny.
Landmark Partners' chief executive officer, Francisco Borges, says at $718m, Landmark Real Estate Fund VI is the largest single-pooled real estate secondary fund ever raised, while the market is still in the ‘early innings’ of the cycle.
Abu Dhabi Capital Management is targeting $100m for its first-ever secondaries fund that will focus on investments mainly in the Middle East and North Africa.