North America

The GP-led and special situations-focused manager had raised around one-quarter of its target as of mid-May.

Such alternatives could be better options than selling fund stakes if LPs must take massive discounts, according to the $251bn pension’s senior investment officer John Bradley.

The niche secondaries firm is seeking $450m for Glouston Private Equity Opportunities VII.

There are some sizeable LP-led portfolios out in the market. However, one LP believes collateralised fund obligations and NAV loans could provide attractive alternatives to traditional portfolio sales.

To create a more comprehensive apples-to-apples comparison, respondents to Secondaries Investor’s annual law firm survey were provided with this set of parameters.

The eighth edition of our law firm survey shows top law firms advising on a collective $856bn of transaction volume, a record high amid a booming secondaries market.

Hamilton Lane Secondary Fund VI launched in 2021 with a $5bn target and is more than 40% larger than its predecessor.

As part of the system’s policy established in 2022, the pension has been building exposure to areas of private equity it may have skipped in the past such as smaller funds and growth-focused GPs.

Some LPs have explored ways to share in the future profits of an asset sold out of a CV shortly after the secondaries process closes.

The pension giant is understood to be looking to offload LP stakes valued between $2bn and just over $3bn.