Fundraising

The deal brings Qualium Investissement to a first close on its latest fund which has a €350m target, Secondaries Investor has learned.

The former chief exec of Deutsche Telekom was one of the LPs who sold stakes to Partners Group, UK regulatory filings show.

The investment firm has acquired minority direct stakes in the fund's portfolio companies and will work with the Italian manager to raise a country-focused fund.

Two reports conclude transparency requirements are affecting the GP-LP dynamic and can be difficult to achieve.

The firm, which focuses on smaller, more complex secondaries deals, has nearly fully invested its third fund and is halfway to raising a fourth.

RCP Secondary Opportunity Fund III, which launched in July with a $500m hard-cap, will focus on lower and mid-market North American funds.

The firm's main business is giving Canadian investors low-cost access to KKR funds through a Canada-domiciled vehicle.

The Swiss niche secondaries firm took 10 weeks to raise its previous vehicle which held a first and final close on €406m in 2015.

This is the first dollar-demoninated fund for the tail-end specialist, which attracted US and multinational institutional LPs to its latest vehicle.

Details of the firm's latest secondaries vehicle were revealed in documents prepared for PSERS, which made its debut commitment to a fund managed by the GP.