Managers

The firm this week said it had raised $5.5bn for the market’s largest infra secondaries fund.

Over the past five years, some private equity shops have shunned their illiquid mentality to launch their own secondaries businesses. Can they give the market’s mega-managers a run for their money?

The buyout firm launched Sage Equity Investors last year with a $1.5bn target.

The firm’s Keystone strategy provides bespoke offerings to alternatives managers at the management company, fund and asset level.

Dawson Portfolio Finance 6 has beaten its target as the firm continues to deepen relationships with US-based LPs.

Former Intel Capital directors closed on $305m for their third flagship fund, which will aim for exposure to data infrastructure, cybersecurity, fintech, robotics and next-gen gaming companies.

The success of Ardian’s recent launch of two evergreen vehicles has been ‘above our expectations’ and the firm has designs to launch more products, executive vice-president Jan Philipp Schmitz told Secondaries Investor.

The Paris-headquartered firm deployed $13bn into secondaries and primaries in 2024, with the average transaction size from its $30bn flagship reaching $2bn, according to its annual report.

While Lexington’s owner Franklin Templeton had previously forecasted a September first close for Fund XI, it has now extended its expectations out to later in fiscal year 2025 or early 2026.

The acquisition provides Sagard a ‘significant expansion’ into secondaries as it seeks to scale its evergreen product offering, chief executive Paul Desmarais III told Secondaries Investor.