Fundraising

The firm expects to hold the final close on Lexington Capital Partners X at the end of the year.

The VS secondaries firm’s 10th flagship has closed on $1.45bn, making it 70% larger than its previous effort.

There has never been a better time for secondaries funds to deploy capital, Harold Hope, GSAM’s global head of secondaries, tells Secondaries Investor.

The mid-market-focused firm is more than two-thirds towards the target of its third vehicle.

Whitehorse Liquidity Partners VI would be 13% larger than its predecessor, which closed on $5.3bn in July.

Our ranking of the biggest secondaries fundraisers reveals a market reaching an inflection point.

The firm also expects a final close on Hamilton Lane Infrastructure Opportunities Fund II this year.

Secondaries Infrastructure Solutions III will target an 11-14% net internal rate of return, according to documents prepared for a US public pension.

Carlo Pirzio-Biroli, managing partner and chief executive of the secondaries firm, says it is easier to attract investors who want to write larger tickets – a difficult proposition with smaller funds.

Secondaries Investor reported in February that Glendower Capital Secondary Opportunities Fund V was expected to close over the summer.