Fundraising

Goldman Sachs Asset Management currently invests in private equity and real estate secondaries through its Vintage family of funds.

Argosy Strategic Partners, the firm's secondaries unit, exceeded its fundraising target in just five months since its first close.

A hard-cap close on Fund V would push the preferred equity specialist up to $14bn in AUM just seven years after being founded.

The niche firm's Fund IV will make individual investments of between $5m and $1bn, with the aid of co-investors at the top of this range.

Charles Wan, whose departure from Atlantic Pacific was reported in January by Secondaries Investor, will hire up to six people to cover Asia on a primary and secondary basis.

The European direct secondaries investor spun out of National Bank of Greece in 2016 in a process backed by Glendower and Goldman Sachs.

The secondaries pioneer has been expanding its offerings, raising $1.4bn for a debut dedicated credit secondaries fund and exploring a yuan-denominated strategy for China.

The London-based manager's fourth fund is the second big first close by a secondaries buyer this week.

The firm is expected to hold the final close on its latest programme before end-June.

The firm, which spun out of New Enterprise Associates in 2018, raised two funds, including a special vehicle to buy portfolios being liquidated by other VC funds.