Fundraising

BSP IX has raised $14bn and is poised to reach $20bn by year-end, the firm revealed during its first-quarter earnings call.

With the rise in primary fundraising for sustainable investment, the manager of philanthropic and endowment capital sees the secondaries market following suit.

Konnin Tam, Steve Lessar and Veena Isaac were fired by BlackRock Monday morning to pre-empt their departure, just as the firm returned to market with a new secondaries fund.

Founder Benjamin Revillon discusses the firm's recent fundraising and how it is planning to deploy $765m in an inflationary environment.

The fund has $250m of initial capital to invest primarily in secondaries and will target high-net-worth individual investors in the US.

The firm's debut secondaries fund raised €358m to invest in North American and European buyout funds in the lower mid-market.

Global Secondaries VI has a levered sleeve targeting returns of more than 20%, a feature more commonly found in credit funds.

UK head Olivier Decannière and former US head Benoît Verbrugghe are among those not listed as key people on the secondaries giant's ASF IX fund, which is seeking $15bn.

The GP-leds specialist firm, which is run by three former CPP Investments professionals, has been raising a fund focusing on single-asset opportunities.

Goldman Sachs Asset Management is in market with its ninth private equity secondaries fund, having closed its predecessor on $10.3bn.