Fundraising

BlackRock Secondaries & Liquidity Solutions has completed over 15 transactions including single and multi-fund portfolios, GP-led restructurings and other complex deals.

Secondary Fund IX is the largest raised by the San Francisco-based manager across its secondaries, fund of funds and direct co-investment platforms.

The manager will invest in smaller, off-market opportunities in the LP portfolio- and GP-led markets.

The vehicle will invest in the offerings of distressed, special situations and credit sponsors globally, deploying $20m to $40m on average.

Revelation Partners will invest in direct positions, LP stakes, GP-led deals and to provide follow-on capital in the healthcare sector.

Crown Global Secondaries V has been in market since late 2019 targeting $3.8bn, around one-third more than it raised for its 2016-vintage predecessor.

Golding Secondaries 2019 held a first close in March 2020 and will back a mix of LP- and GP-led deals across private equity, debt and infrastructure.

Rio de Janeiro-based Signal Capital spun out last year and is aiming at Brazil's growing GP-led opportunities.

Although the strategy is not front of mind for most investors, a new type of manager-led deal is set to attract more institutional capital.

The $31bn manager is targeting secondaries investments through its 2019-vintage Fund XI and an in-market follow-on vehicle.