North America

Buyers have explored the deal and at least two firms are understood to have emerged as potential backers.

More capital was raised in the third quarter of this year than the entire first half, fundraising data from Secondaries Investor shows.

Around 14% of GP-led market volume in the first half involved growth and venture capital, which was up markedly from the first half last year, according to Lazard’s half-year secondary volume report.

Details of how the firm’s secondaries funds have performed have been disclosed in documents prepared for a US public pension.

Three secondaries-focused professionals have been included in affiliate title Private Equity International’s annual list of the most impressive women in private markets.

Tokenised secondaries funds are a great match for first-time investors in private markets, says Securitize co-founder Jamie Finn.

Secondaries options can provide immediate compensation for start-up employees, boosting motivation, enticing future hires and restoring team momentum, writes Nate Leung from Sapphire Partners.

The firm closed its fourth dedicated impact secondaries fund on $252.2m in July, short of its $350m target.

StepStone Secondary Opportunities Fund V raised $4.8bn and is already 50% committed.

The world’s largest asset manager is banking on deal volume for the strategy reaching $25bn by 2027.