Fundraising

While fundraising figures in the first quarter were lofty, most of the capital raised came from Ardian’s record-breaking close in January.

Stafford plans to allocate 80% of its latest $1bn+ timberland fund to secondaries, chief executive Angus Whiteley told Secondaries Investor.

The strategy is nearly double the size of its predecessor, which closed in 2021.

The firm’s predecessor vehicle closed on $2.9bn in June 2021, Secondaries Investor data shows.

The secondaries timberland fund has closed just above its target and was launched at the start of 2023.

The Mumbai-headquartered asset manager recently closed its debut secondaries fund above target on 50bn rupees.

Despite closing its debut real estate secondaries fund below target, the manager perceives a lack of capital in the market relative to the opportunity set.

ICG Strategic Equity Fund V is more than double the size of its predecessor, which closed on $5.3bn in 2022.

The strategy, which will focus on providing strategic capital to lower-mid- and mid-market buyout GPs for add-ons, was launched in 2022.

ACP Secondaries 5 is already around 60% deployed and the firm is seeking to capitalise on a lack of liquidity in the underlying private equity market, global chief executive José Luis Molina tells Secondaries Investor.