Four secondaries funds close during Q2

Several secondaries firms met fundraising targets in the second quarter.   

The number of secondaries funds in market and their aggregate fundraising target declined slightly during the second quarter thanks to a number of fund closes, according to PEI’s Research and Analytics division.

Currently, there are 42 secondaries funds in market targeting an aggregate total of $30.42 billion, compared to 46 funds that targeted $36.38 billion during the first quarter.

The number of global secondaries funds in market fell from 20 to 17 quarter-over-quarter, after Ardian closed its AXA Secondary Fund VI on a record-setting $9 billion and Pomona Capital held a final close for its eighth fund on $1.75 billion in mid-April. Northleaf Capital Partners also closed its debut secondaries fund on $255 million in May.

The 17 global funds in market are targeting an aggregate total of $23.76 billion. The largest fund is Lexington Partners’ eighth fund, which has an $8 billion target, followed by The Blackstone Group’s Strategic Partners Fund VI, which is targeting between $3.5 billion and $4 billion.

 In the Americas, the number of funds in market edged down from 13 to 12 once Montauk TriGuard closed its sixth fund on $500 million in early May.

The number of funds in market in Europe and Asia-Pacific remained the same quarter-over-quarter, with eight funds targeting roughly $2.77 billion and five funds targeting roughly $1.07 billion, respectively.

No new funds launched in any region and no funds have launched this year in the Middle East and Africa.

This article originally appeared on Secondaries Investor.