The French asset manager has closed a single-asset CV for a French cybersecurity company, Secondaries Investor has learned.
The firm disclosed the launch of its concentrated deal-focused GP-led strategy in May.
The London-headquartered firm had been mulling a CV for three assets, including AssuredPartners and Safetykleen, Secondaries Investor has learned.
Many secondaries investors believe the sponsor-initiated secondaries market will exceed $70bn next year, according to a survey by the investment bank.
Pacific Equity Partners has deployed around 60% of its evergreen wealth product into overseas GP-leds, managing director Alex Ovchar tells Secondaries Investor.
The London-based firm’s strategy is based on a preferred equity approach to give GPs, LPs and companies short-term liquidity.
Patria Investments Secondary Opportunities Fund V launched in July and held a first close in September.
Credit and real estate secondaries could see $7bn and $11bn of deal volume each this year, per advisory reports.
The School Employees Retirement System of Ohio recently confirmed a commitment to the continuation vehicle.
TPG believes its GP solutions platform will scale similarly to the firm's other PE strategies, says CEO Jon Winkelried.