Fundraising

The RMB fund targets Chinese LPs and aims to hold its first close this year.

The firm also closed on $1.5bn and $900m for its latest VC and real estate secondaries vehicles, respectively.

The firm’s sixth secondaries flagship will be ‘meaningfully’ larger than its predecessor fund, according co-CEO Erik Hirsch.

Panelists say fundraising growth can boost bidders and cut pricing spreads.

The amount of capital raised for the strategy last year eclipsed the previous $101bn record set in 2020, data from Secondaries Investor shows.

The Blackstone unit previously raised $3.75bn for its third programme focusing on the asset class.

The secondaries giant’s ASF IX launched in February 2022 and is seeking north of $20bn.

Banner Ridge reached a $2.15bn final close for its latest flagship fund this year, smashing its $1.4bn target.

The firm’s $22.7bn haul this week comes at a time when institutional investors are assessing the opportunity cost of their investments.

Blackstone Strategic Partners tops the list with a record-breaking fundraising for its ninth flagship fund, which amassed $22.2bn.