Fundraising

The manager is also raising an Opportunity Fund to invest in earlier flagships.

Wellington Hadley Harbor IV's investors include public and private pension plans, insurance companies, corporations, a sovereign wealth fund and family offices.

The alternatives giant took out the facility against about 20 portfolio assets in its 2018-vintage Carlyle Europe Partners V fund, Private Equity International has learned.

“We are hearing more from large LPs about increasing their allocation to private equity because they’re fully allocated but they don’t want to miss out on this vintage,” Winkelried said.

Crosspoint’s experience differs from other newer managers, who have struggled to attract capital from LPs increasing content to stick with their deepest relationships.

The continuation fund's backers include Goldman Sachs Asset Management, Blackstone Strategic Partners, TPG GP Solutions, and Portfolio Advisors.

The fund's backers include Peter Thiel, the Olayan Family of the Olayan Group and Blue Lion Group.

TA XV will target the technology, healthcare, financial services, consumer and business services.

The denominator effect has dropped in importance as investors worry about liquidity, according to a survey from the placement firm on distributions and investor allocations.

Bicycle Capital has raised $440mn for its debut fund, anchored by Mubadala Investment Company and Claure Group – the family office of Bicycle's founder, Marcelo Claure, former COO of Softbank Group.