Fundraising

Including co-investment vehicles and SMAs, the firm’s LP secondaries strategy has received total commitments of $1.6bn.

The firm is seeing two- to three-times more secondaries deal flow than it had for the previous programme, Asia chairman Kevin Lu said at the Milken Institute Global Investor’s Symposium on Tuesday.

Golding Capital Partners also promoted head of secondaries, Richard Wilmes, to partner-level, a move that underscores the importance of secondaries investments to the firm.

CFES 2 is a multi-strategy impact fund, NPM has learned – the latest in a handful of climate and impact funds with secondaries strategies.

Goldman Sachs Asset Management’s predecessor fund, which closed on $2.75bn in 2020, is the third-largest real estate secondaries fund to date.

Moonfare already has strong ties to the secondaries market, having partnered with Lexington in 2021 to help users sell their fund stakes.

The more ambitious goal may owe to an anticipated surge in secondaries investing, driven by pent-up demand, especially among cash-hungry LPs.

The firm is gearing up to launch its next fund and could target $1bn, Secondaries Investor understands.

A new Illinois pension plan looks to build its private equity portfolio through a secondaries commitment.

While GP-led inventory is high, the capital chasing such deals remains limited to a small universe of buyers.