News & Analysis

The capital comprises $1.7bn for a fund – exceeding a $750m – as well as $3.8bn raised in bespoke mandates.

Adoption of evergreen vehicles is broadening across the secondaries buyer universe, according to a report from Evercore, with this capital increasingly deployed into a broadening set of opportunities.

The multi-manager has already deployed $1bn out of its latest secondaries fund and related vehicles, with an early emphasis on data centre investments.

The SaaS provider has generated large returns following Summit’s initial investment, with LPs given a range of options to roll or cash out during the CV process, Secondaries Investor understands.

‘The last several years have been very volatile… The fact that we still saw this record volume is remarkable,’ Jefferies’ Scott Beckelman tells Secondaries Investor.

The firm’s inaugural vehicle launched in June 2023 with a $4bn target, Secondaries Investor data shows.

Secondaries fundraising saw its second-strongest first six months across a six-year period, with Q1 accounting for the bulk of activity.

As refinancing pressures mount and exits remain elusive, real estate investors are turning to recapitalisations to unlock liquidity and extend hold periods in a challenging market, writes Giovanni Legorano.

Continuation vehicles are emerging as a key liquidity tool in private credit, yet the majority of LPs are still opting to cash out amid rising market scrutiny.

The UK life insurer seeks to back CVs involving assets that need more time and capital to support growth, as opposed to primarily allowing a GP to hold on to a trophy asset, infrastructure funds co-head Anish Majmudar tells Secondaries Investor.