Fundraising

The fund, which is already larger than its predecessor, is expected to close in 2026 and exceed its $7bn target.

NewView spun out of Silicon Valley venture giant NEA in 2018 through a deal backed by Goldman Sachs and Hamilton Lane.

The pension committed $500m to GP Solutions II’s predecessor, marking the biggest commitment made to a secondaries fund last year.

Secondaries use is soaring as the search for liquidity intensifies.

Bridge 7 Bee Secondary will pursue small-cap LP-leds with a particular focus on global buyout and growth assets held by Asia-based sellers, Secondaries Investor understands.

The buyout firm launched Sage Equity Investors last year with a $1.5bn target.

The firm’s half-year activity update also disclosed launch plans for future secondaries vehicles.

The secondaries pioneer is approaching its target for the vehicle, which marks its first strategy beyond VCFA’s flagship Venture Partners series.

Dawson Portfolio Finance 6 has beaten its target as the firm continues to deepen relationships with US-based LPs.

The fund launched earlier this summer and is already close to catching the total of its predecessor.