Fundraising

Crown Secondaries Special Opportunities III has closed on $3bn ahead of its $2.5bn target.

Predecessor vehicle Fund IV is over 75% invested and has a TVPI of 1.5x, according to documents prepared for a US state investor.

Details of 21 secondaries funds, including those by AlpInvest Partners, BlackRock and Coller Capital, have been disclosed in documents prepared for a US pension.

GSCE VI launched in 2022 and is seeking a slight step up from the amount raised by its predecessor.

Dover Street XI is already 46% larger than its predecessor, which closed on $8.1bn in 2020.

Strategic Equity V is already larger than its $5.3bn predecessor, according to chief investment officer and chief executive Beno​ît Durteste.

The investment arm of global wealth manager will mainly focus on mid- and large-cap assets via its sophomore fund.

Capital raising for private equity secondaries strategies plummeted 77% year-on-year for the three months to end-March, according to PEI data.

Manulife Investment Management has held the final close for its debut vehicle, private equity-focused Manulife Strategic Secondaries Fund.

Including co-investment vehicles and SMAs, the firm’s LP secondaries strategy has received total commitments of $1.6bn.