Managers

Temasek’s Azalea Investment Management expects more GPs to use the technology to crystallise liquidity for LPs, according to managing director Justin Keh.

The Boston-headquartered manager has raised over $1.1bn for its debut single asset CV-focused strategy, joining Blue Owl and Leonard Green in closing such vehicles this year.

The deal sees a portfolio of private equity interests move into a new vehicle run by M&G.

The close of MCP Opportunity Secondary Program VI follows a rejig of Montana’s senior leadership last year.

The platform’s close marks the second notable debut GP-led strategy to close this year after Leonard Green closed on more than $3.6bn last month.

The GP-led-focused fund is more than a quarter invested and will target lower mid-market deals in North America.

Strategic Partners has held an initial close of $5bn for Strategic Partners Fund X with ‘another major close’ expected in the coming weeks, Blackstone’s president and COO Jon Gray said on the firm’s earnings call. Its $22.2bn Fund IX had committed $19.7bn by year-end 2025.

The US pension plan is targeting a 5-15% exposure to secondaries and committed a total of $400m to two HarbourVest vehicles.

The pair will eye ‘additional areas of collaboration’ amid the insurer’s plans to raise its alternatives exposure.

SISF V is the largest infrastructure vehicle that Stafford has raised to date and brings its total infra AUM to $2.7bn.