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The fund of funds manager has so far raised $51.5m, according to a regulatory filing.

With this new investment, the fund's portfolio now has exposure to 19 underlying funds managed by 10 general partners.

The London-based firm also launched its fourth fund of funds vehicle this year.

As part of the 31 promotions, Ralph Guenther, who sources secondaries deals, was appointed partner.

The management team at JPMorgan's listed secondaries unit will move to New York-headquartered Fortress's credit business.

It depends how your define the market, according to CBRE's Philip Barker and Landmark Partners' James Sunday.

Buyers in Europe are turning to markets such as Ukraine and Russia to find attractive discounts on secondaries stakes, according to Christian Böhler, the secondaries principal at Akina.

The portfolio was owned by the German Max Planck Foundation and is made up of three European fund stakes including an interest in the UK's NorthEdge Capital Fund I.

The target for Axiom Asia IV is still undisclosed but the Singapore-based firm’s previous vehicle sped towards its $1.15bn final close in just four months.

Investments held for more than four years will remain subject to capital gains tax treatment.