Fundraising

New Jersey Division of Investment, a long-time investor in JLL funds, is committing $200m to the new flagship, accounting for more than one-fifth of the target.

Warburg’s move comes as several other large GPs have built out internal secondary capabilities, including TPG and Leonard Green.

AKKR Strategic Capital will invest in the software industry in the secondary market.

Also, Neos raised $350 million for a co-investment vehicle alongside Fund II.

FHGB XI will focus on acquiring controlling stakes in middle-market healthcare companies.

Fund III's LPs include endowments, foundations, insurance companies, pensions, financial institutions, and family offices.

The recommitment to its core strategy will allow the firm to potentially take advantage of the environment, in which corporate carveout activity is on the rise.

Fund V's LPs include pension funds, asset managers, fund of funds, endowments, foundations, health systems, family offices, and insurance companies.

The Boston firm last month closed Bain Capital Global Special Situations Fund II at $4.1bn, ahead of its target, sources told Buyouts.

The firm disclosed the launch of its concentrated deal-focused GP-led strategy in May.