Fundraising

Capital raising for private equity secondaries strategies plummeted 77% year-on-year for the three months to end-March, according to PEI data.

Manulife Investment Management has held the final close for its debut vehicle, private equity-focused Manulife Strategic Secondaries Fund.

Including co-investment vehicles and SMAs, the firm’s LP secondaries strategy has received total commitments of $1.6bn.

Golding Capital Partners also promoted head of secondaries, Richard Wilmes, to partner-level, a move that underscores the importance of secondaries investments to the firm.

Goldman Sachs Asset Management's predecessor fund, which closed on $2.75bn in 2020, is the third-largest real estate secondaries fund to date.

A new Illinois pension plan looks to build its private equity portfolio through a secondaries commitment.

Ballast is led by managing partner Jon Popielarski, a former director of private assets at Employees’ Retirement System of Rhode Island.

The final close of TPG GP Solutions will be one of the key pillars driving the firm’s growth in 2024, CEO Jon Winkelried said in its latest earnings call.

The RMB fund targets Chinese LPs and aims to hold its first close this year.

The firm also closed on $1.5bn and $900m for its latest VC and real estate secondaries vehicles, respectively.