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Hamilton Lane led the transaction, the fourth inaugural continuation vehicle in the past two months.
New 2ND was founded by a former AlpInvest managing director in 2016 and held a $572m final close on its second fund in June.
Panelists at PEI's CFOs & COOs Forum, held over the summer, spoke of how the standard GP structure is straining under the weight of value yet to be realised.
Deal closed three months after Secondaries Investor reported the alternatives giant was set to back the transaction.
The Carlyle unit has deployed $1.4bn of its latest ASP VII programme, which closed on $10.2bn in December.
Partner Lauren King comes from Goodwin Proctor where she was co-leader of the secondaries practice.
Creating a culture where women feel valued is key to improving gender diversity in secondaries, says Akin Gump’s Mary Lavelle.
There’s a little fee LPs must pay when making a late commitment to a fund, which can make some secondaries investments unviable.
Partner Ted Craig joined Dentons in April 2019 after more than five years at MJ Hudson, where he was head of private funds.
The Blackstone subsidiary anchored a continuation vehicle which invested in chemicals producer Ascensus alongside New Mountain Capital.