Fundraising

The investment firm has collected 70% more for its latest fund than its 2015-vintage predecessor.

The firm targets underperforming funds and difficult situations, which it says have increased as a result of covid-19.

The niche firm has raised $350m for Sweetwater Secondaries Fund II, which targets 'buyer-led secondaries' deals.

Secondaries deals Arcano has backed include a €50m tender offer involving German GP Emeram and the restructuring of Duke Street Capital VI.

The pandemic may not have triggered a wave of secondaries buying opportunities, but the effects of the coronavirus are manifesting themselves in subtle and significant ways.

StepStone Real Estate Partners IV, which has been in market since April last year, raised twice as much as its predecessor to invest in complex secondaries deals.

VC-focused NewView Capital was formed by a $1.4bn direct secondaries deal backed by Goldman Sachs and Hamilton Lane.

IDG Capital, which has $20bn in assets, is understood to have run a novel yuan-to-dollar secondaries process advised by Lazard.

RCP Advisors was targeting a summer final close for its $150m overage fund, which will invest alongside its flagship secondaries fund in coronavirus-induced opportunities.

Paris-based investment manager Tikehau hired StepStone's Olga Kosters to head up the strategy in November.