Western Europe

The firm, which is also planning to launch its first infra secondaries vehicle, has raised $9.3bn to date for Fund VI, according to its H1 2026 results.

The modular buildings provider, which is part owned by MML, raised £360m from a group of European infrastructure investors.

AI disruption ‘reverberated’ across both the LP-led and GP-led markets in the first half of the year, according to Campbell Lutyens’ Gerald Cooper.

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

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.

The continuation fund houses eight assets, with five to six making up the bulk of net asset value, Secondaries Investor understands.

The London-headquartered manager has made hires from Ardian and UBS to co-lead the strategy, and has launched a debut fund, Secondaries Investor understands.

The vehicle, which surpassed both its $1bn target and its $345m predecessor, benefited from LPs’ increased sophistication around CVs, Carlyle AlpInvest’s Julian Rampelmann says.

A growing cohort of institutional investors are turning to real estate secondaries as global buyers look for exposure to in-demand asset classes.