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The firm has already committed 21% of Stafford International Timberland VII’s $484 million and plans to open an office in Latin America in the third quarter.

The deal comes only months after Lone Star acquired a large real estate portfolio from Moorfield for £1 bn.

The fund, which had a first close nearly 18 months ago, was oversubscribed.

The average size of funds that closed in the first quarter was less than half of the average size of funds that closed in the same period in 2014.

The Paris-based private equity intermediary will use the capital mainly to focus on marketing its platform to potential new members.

The Baltimore Fire and Police Employees’ Retirement System has committed to secondaries funds managed by LGT Crown and Greenspring Associates.

The highest prices for LP interests ranged from 100 percent to 102 percent net asset value during the first quarter, according to NYPPEX.

Online engine aims to bring greater efficiency and liquidity to the secondaries market.

In 2014 the average price of LP interests traded on the secondaries market was 94 percent of net asset value.

The Paris-based firm will return to market just a year after closing its $9bn sixth secondaries fund