Fundraising

Advent International's $17.5bn ninth flagship and Warburg Pincus's $4.3bn China-SEA II are among the largest funds that closed last month.

David Li's firm had previously raised around $871m in Chinese yuan across two funds, one of which is sponsored by Chinese ride-hailing business UCAR.

The firm has raised the capital across its eighth flagship fund and an accompanying healthcare sidecar vehicle.

The vehicle, which is targeting $375m, is Northlane Capital’s first as an independent manager.

The guidelines for best practice incorporate several key issues for limited partners, including GP-led secondaries, subscription credit lines and co-investments.

Key findings from the LP body’s latest best practice guidance.

The firm secured new mandates with projected future commitments of over $3bn and reported increasing demand from Southern Europe, Latin America and Asia.

The debut fund will target primary, secondaries and direct co-investments across multiple geographies, sectors and strategies.

The change reflects Australia and New Zealand’s disproportionate weighting in Riverside Asia-Pacific Fund II, a $235m 2012-vintage.

The fundraising lasted 18 months and 40% of the capital came from new investors.