Goldman Sachs is raising $300m and AXA is raising €600m to invest in LP stakes that are minimally funded.
The university endowment wants to boost liquidity by selling portions of its private equity fund interests, CEO John Powers told PEO.
The firm raised more than $1bn via two traditional private equity funds, while its listed fund of funds recently raised nearly $100m for fresh secondaries deals.
The pension will not look for new commitments for a while as it takes time to monitor the state of the private equity industry.
San Francisco-based Industry Ventures plans to capitalise on Little Hawk Capital’s focus on investments in smaller funds and unfunded commitments.
The direct VC secondaries firm has exited mobile payment business Macalla a year after making the investment.
Several 3i partners will join DFJ Esprit’s venture secondaries arm, which will manage a portion of 3i’s European VC assets with backing from Coller and HarbourVest.
The secondaries firms have established a £170m fund to acquire assets from 3i that will be managed by DFJ Esprit's nascent secondaries arm, Encore Ventures.
Jon Moulton’s resignation letter to LPs boldly advises winding down the firm’s non-traditional fund and breaking up the portfolio – a suggestion not lost on rivals and secondary investors.
The secondaries specialist is working with several institutions on preferred annex fund-type structures that help LPs to meet capital calls and make fresh commitments.