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The global fund of funds manager is three-quarters of the way towards the $500m hard-cap for its latest secondaries vehicle.

The London secondaries firm has used its fourth fund to build its exposure to the European buyout manager's 2002-vintage fund.

Associates at Latham & Watkins receive £107,000 on average, according to the list, which includes firms with secondaries operations such as Hogan Lovells.

Since the chastening experience of the global financial crisis, LPs are wary of being over-allocated to private equity.

The Tokyo-based firm's latest fund can make direct secondaries investments and acquire LP stakes from domestic investors.

The $11bn pension fund's commitment comes 17 months after it set up a separate account with Siguler to focus on distressed secondaries.

The $4.4bn pension fund is under-allocated to private equity and is searching for manager to help it reach its 10% allocation target, including through secondaries.

The firm estimates there is about $55bn of dry powder in the secondaries market, up from $49bn a year earlier.

The global investment firm is seeking to fill at least six positions related to its secondaries operations across its US and Asia offices.

The London tail-end specialist is increasing its exposure to Advent III after acquiring Deutsche Bank's stake in June.