Fundraising

The raise of Secondary Opportunities Fund VI proves the rationale behind CVC and legacy Glendower Capital’s tie-up ‘was right’, CVC Secondary Partners’ head tells PEI Secondaries Investor.

Scale has become a competitive edge in a rapidly expanding secondaries market.

The rapid growth of the secondaries market has led to suggestions that it could see transaction volumes of $500bn – or even $1trn – by 2030. Just four years out from this deadline, are such predictions realistic?

The firm’s total infrastructure secondaries programme has secured $1.7bn, adding to a growing pool of capital available to deploy into the asset class.

Some institutions are expected to lean into equity-based strategies as they seek a new home for 2026 credit allocations.

Churchill, whose parent Nuveen Private Capital received backing from Temasek last year, and the Singaporean investor’s asset management platform Seviora formed the vehicle with collateral spanning PE and private credit, including PE secondaries.

Fund IV, which is targeting $1.25bn, has recently been activated and has closed on its first deal, Secondaries Investor has learned.

Four of the firm’s cornerstone evergreen products are heavily weighted to secondaries investments.

Market volatility only tells part of the story of the GP-led market’s domination in the first six months of the year, with fundraising and expansion into new asset classes also driving growth.

The firm’s seventh flagship is about twice the size of its previous vehicle and took half as long to raise.