Fundraising

The firm is understood to be pushing ahead with fundraising even amid the tougher environment.

The firm is seeking €1.3bn for ACP Secondaries 5, having launched the vehicle in the first quarter of this year.

The firm, which closed its Pantheon Credit Opportunities Fund II in May, sees around 70% of dealflow coming from LPs, according to global head of private credit Rick Jain.

CRPTF's investment advisory committee approved $350m in commitments, split equally between HarbourVest’s latest flagship secondaries fund and a connected co-investment vehicle.

More capital was closed on for private equity secondaries in the first quarter of the year than for any other strategy outside of buyouts.

The VC secondaries specialist reached the $850m hard-cap for its predecessor, which held its final close in 2021.

Goldman raised $10.3bn for predecessor Vintage VIII against a target of $7bn, according to Secondaries Investor data.

LP capacity constraints and macro challenges made a sizeable dent in capital raising last year, but secondaries funds still managed to exceed 2018 and 2019’s total hauls.

The alternatives giant has committed more than $1bn into equity and credit secondaries over the past half year, according to co-president Jim Zelter.

Glendower Secondary Opportunities Fund V had an initial hard-cap of $4.5bn – a figure that is understood to have been increased.