PEI Group Data

Lexington Capital Partners X, the firm's latest main secondaries fund, smashed its $15bn target to collect $22.7bn last year.

Secondaries funds can deliver outperformance compared with PE buyout funds due to their diversification and asset-screening processes.

The assets in the process run by the firm formerly known as The Jordan Company 'do not appear to have the ability to generate outsized returns', according to adviser Aon.

One in three private equity funds missed their fundraising targets in H1 2024, compared with 4% of secondaries funds.

With HarbourVest closing on $15.1bn for Dover Street XI, Secondaries Investor takes a look at how the firm's flagship secondaries vehicles have delivered across IRR, TVPI and DPI.

Combining Dover Street XI and its co-investment vehicle Secondary Overflow Fund V, the manager has raised $18.5bn to deploy into secondaries transactions.

There are at least 14 secondaries vehicles seeking capital to invest in the asset class, Secondaries Investor data shows.

The Carlyle unit is also in market with its flagship secondaries programme and a dedicated single-asset-focused fund.

While this year has not seen a large-scale close, several funds with hefty targets remain in market.

The niche secondaries firm is seeking $450m for Glouston Private Equity Opportunities VII.