Fundraising

Montana Capital Partners' co-founders speak to Secondaries Investor about doubling up on their latest fund and what a downturn could mean for complex deals.

The firm is seeking $425m for RCP Secondary Opportunity Fund III which will invest in US mid-market funds.

The firm's latest fund is seeking around $2bn more than the target of its predecessor in a year in which some of the biggest names in secondaries have returned to market.

The French private investment unit's plans include a €175m 'hybrid fund of funds' with secondaries and co-investment pockets.

The direct secondaries firm is targeting the amount it raised for its 2012-vintage previous fund.

This is the second secondaries fund that HQ has closed in recent weeks, with Auda Asian Secondary Fund raising $250m.

Sven Lidén, who left the private equity firm after it was acquired by Schroders, has started his new role at the Swiss secondaries specialist.

At least 12 firms with secondaries operations made sister publication Private Equity International's list of the biggest private equity fundraisers over the last five years.

The Carlyle subsidiary has been in market since January last year seeking $1bn to invest in real estate secondaries.

Auda Asia Secondary Fund, which came under the HQ umbrella in 2015, had been on the market since October of that year.