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Fundraising
Total capital gathered in 2015 by closed-ended private equity vehicles with a focus on investments into secondaries looks set to fall short of 2014 fundraising levels.
The $1.4bn pension fund will likely make a commitment in the fourth quarter or in the first quarter of 2016 at the latest.
Now owned by two executives who worked together at a US financial services firm, Paris-based Fondinvest is raising its fifth secondaries fund.
The Tokyo-based private equity firm is nearing the 30bn yen hard-cap for its latest secondaries programme, according to a managing partner at the firm.
The Swiss firm took just 10 weeks to raise its latest vehicle which will focus on niche secondaries deals, according to the firm.
The advisory firm also estimates that buyers plan to raise an additional $40bn of capital in the second half of 2015 and in 2016.
The target for the venture capital firm’s second secondaries vehicle has yet to be determined.
Partners Group Secondary 2015 closed on $1.5bn in May.
General partners – with and without troubled funds – are increasingly seeing the secondaries market as a fundraising tool.
The Dallas firm held a first close with $14.7m for Traveller Capital Partners II, a little over a year after it held a final close on its first fund.