Funds of funds

The asset manager, which has a $21bn private equity portfolio, was 'too little bullish' on the US over the last decade, global PE head Rainer Ender tells PEI.

The number of sponsor-led secondaries coming to market this year is expected to be bolstered by fundraising delays, rising demand in China for US dollar commitments and a backlog of transactions.

The deal comes as Hermes continues to fundraise for £1bn for its second infrastructure vehicle.