Fundraising

The firm believes VC secondaries will shift venture capital from an illiquid to liquid asset class in the near future, according to founding partner Alan Vaksman.

Details of the fund's target and fundraising update, as well as expected performance and fees, were disclosed in US pension documents.

The GP-led and special situations-focused manager had raised around one-quarter of its target as of mid-May.

The niche secondaries firm is seeking $450m for Glouston Private Equity Opportunities VII.

Hamilton Lane Secondary Fund VI launched in 2021 with a $5bn target and is more than 40% larger than its predecessor.

Longstanding LP relationships and market dynamics helped the firm raise the biggest pool of capital for venture secondaries, according to partner John Avirett.

Private equity secondaries will be a $500bn market by 2030, the firm's founder and chief investment officer Jeremy Coller tells Secondaries Investor.

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.