Fundraising

As part of the tie-up, Amundi will pick up a 9.9% stake in London-based ICG by June 2027.

Hark Capital has set a $750m target for its fifth fund, representing a 50% increase on its previous fundraising target.

The London-based asset manager is also in the market with the second vintage of its LP-focused secondaries fund.

The listed asset manager has hired former Partners Group managing director Henri Lusa to head up the unit, according to a statement seen by Secondaries Investor.

The British GP has relocated a senior executive to lead the Singapore desk and added two staff to support him amid asset managers’ growing focus on targeting wealthy clients.

The firm’s Secondary Opportunities Fund V is the first vehicle raised since Patria acquired Aberdeen’s European private equity business.

The publicly listed asset manager is confident its latest secondaries vehicle will surpass the size of its $5.6bn predecessor, co-CEO Erik Hirsch said on the firm’s earnings call.

The fund is looking to collect up to $1.5bn more through December and has already deployed $8bn.

The vehicle from the tail-end secondaries specialist is the latest vehicle to smash its fundraising goal this year.

The oversubscribed vehicle adds to an already lucrative, record-breaking fundraising year for secondaries.