secondaries

TPG's entry as the latest multi-asset manager to the secondaries market is likely to not be the last this year.

The firm is nearing a final close on its largest secondaries programme, which has thus far raised $2.2bn out of a $3bn target.

The CPPIB secondaries head will lead TPG's secondaries investment strategy in Europe and the US.

Although HNWIs have not been precluded from acquiring positions in pre-IPO businesses via the secondaries market, the process can be complex and fraught with risk.

Hong Kong-based CLSA is seeking up to $100m from the likes of HNWIs and wealth managers to build a portfolio of pre-IPO tech unicorns, sister title Secondaries Investor understands.

Funds that closed on more than $5bn in H1 took on average 15 months to do so, longer than in any of the previous five years, according to PEI data.

The investment firm's ASF VIII programme ranks only behind vehicles raised by Blackstone and Apollo Global Management in terms of capital raised.

The evolution of the secondaries market over the past decade has brought material changes to how LPs and GPs engage with the asset class.

The private equity and private credit giant is one of several to have considered adding the strategy to its offering.