Fundraising

The Chicago-based manager will target opportunities where it has an informational advantage that allows it to profit from 'value arbitrage', according to secondaries head Jeff Akers.

The impact secondaries firm has shifted the focus of its clean growth strategy recently to preferred equity structured transactions from traditional LP interests.

The fund will continue with ISF's focus on acquisitions of holdings in private companies and venture capital funds.

Pomona X, which launched in 2020, is around 37% larger than its predecessor and the firm's first multi-billion dollar fund.

Unigestion is also understood to have participated in the transaction involving digital transformation services provider Init.

The firm is understood to have refined the types of secondaries transactions it will target to those owned by an owner-operator.

The New York-headquartered manager’s latest vehicle also marks its first dedicated secondaries vehicle with an opportunistic risk-return profile.

The firm has held the final close and first close on its latest venture capital and private equity secondaries funds, respectively, according to chief executive Scott Hart.

Pantheon estimated that global private credit secondaries dealflow reached $18.4bn in 2021, having barely registered only a few years ago.

The European direct secondaries specialist is seeking more than $2bn across separate vehicles.