Fundraising

With firms including Strategic Partners and NewQuest Capital Partners blowing through theirs, is the hard-cap still meaningful?

The Paris-headquartered firm raced past Lexington Partners and Blackstone in our exclusive list of the world's largest secondaries managers.

The preferred equity specialist, which is now understood to be targeting around €900m for its fourth fund, will send its number three in command to lead its North America operations, Secondaries Investor has learned.

The $2.7bn pension, which has previously invested in secondaries through funds managed by Landmark Partners, backed NB Alternatives' predecessor fund.

The investment manager is seeking €300m for its latest dedicated secondaries fund and expects dealflow in the smaller end of the market to remain robust.

The firm, founded by former Willowridge partner Michael Bego, has reached the $180m hard-cap for its fund that focuses on the smaller end of the market, Secondaries Investor has learned.

The Blackstone unit, which launched its latest secondaries fund a year ago with a $6.5bn hard-cap, is yet to hold a final close on the vehicle.

UK private equity firms in fundraising mode should expect investors to quiz them on the potential impact of Brexit on their structure, investment strategy and returns, lawyers say.

The founder of Eaton Partners, which has worked on Landmark Partners' and Partners Group's fundraising, says the proliferation of sovereign wealth funds as private equity investors helps offset pension fund bans on placement agents.

The investment manager is in market with at least six vehicles including a dedicated secondaries fund and a real estate fund of funds.