The five largest managers by capital raised for secondaries vehicles in the last 10 years are Goldman Sachs Private Equity Group, AXA Private Equity, Lexington Partners, Coller Capital and CS Strategic Partners.
Goldman Sachs Private Equity Group has raised $13.4bn for secondaries vehicles in total in the last 10 years. The private equity fund of funds manager’s latest secondaries vehicle – Vintage VI – remains in the market raising capital. The vehicle had a fundraising target of $3bn; it has already garnered just under $3bn from investors.
AXA Private Equity has raised an aggregate $12.9bn for secondaries vehicles in the last 10 years. Its last dedicated secondaries vehicle, AXA Secondary Fund V, raised a total of $7.1bn from investors representing the largest ever amount for a single secondaries vehicle.
Lexington Partners has raised $12bn for secondaries vehicles in the last 10 years. It raised $7bn from investors for secondaries fund Lexington Capital Partners VII in 2011. It is currently raising capital for Lexington Middle Market Investors III, a vehicle which focuses on acquiring interests in “younger” funds with a larger proportion of undrawn capital. The vehicle is targeting $750mn.
Secondary fund of funds manager Coller Capital has raised $10.3bn for secondaries funds in the last 10 years. It completed fundraising for Coller International Partners VI in 2012, raising $5.5bn from more than 200 investors.
CS Strategic Partners has raised $9.8bn in total for secondaries vehicles in the last 10 years. CS Strategic Partners V closed in 2012 raising $2.9bn from investors.