Fundraising

The Canadian growth investor is raising a fund to reinvest in its best assets, having used a GP-led deal to buy out select LPs and co-investors.

'Are we smart financiers or do we really get into the technology? No, we’re psychologists', managing partner Hugh Stewart tells Secondaries Investor.

The secondaries market is growing and this ranking of the biggest fundraisers is growing with it.

The California firm, founded by StepStone's former secondaries head, targets 'buyer-driven' secondaries deals in the tech, healthcare and consumer sectors.

Global Secondary Fund 7 launched at the beginning of this year with a focus on buyout and growth equity funds.

Eight of the top 20 largest firms in the PEI 300 already manage secondaries funds or are working on the strategy.

North American GP-led-focused New 2ND Capital Fund II has raised nearly twice the amount raised for its 2018-vintage predecessor.

Select Opportunities Fund II has raised $1.25bn to invest in 'recapitalisations of high-performing TA portfolio companies', the growth investor says.

The fund makes primary, secondaries and direct co-investments in funds and businesses 'with a clear focus on environmental impact'.

The secondaries giant is speaking to investors about its 10th flagship fund less than 16 months after having amassed $14bn for its latest vehicle.