Blog

Top Secondaries Buyers - September 2012

by Patrick Adefuye

  • 06 Sep 2012
  • PE

Preqin’s database tracks the top secondaries buyers by total funds raised in the last 10 years. The largest is US-headquartered Lexington Partners, which has made around $14bn in secondary investments over the past 10 years. Its latest fund, Lexington Capital Partners VII, closed in June 2011 having raised a total of $7bn. It looks to purchase LP stakes primarily in established global buyout, venture capital, and mezzanine funds through secondary transactions worth between $1mn and $1bn.

The next largest secondary buyer by funds raised in the last 10 years is AXA Private Equity, with around $13bn in capital raised in that period. Its latest vehicle, AXA Secondary Fund V, is the largest ever secondaries vehicle, having closed on $7.1bn in June 2012. The fund will acquire interests in buyout, growth equity, and venture capital funds as well as direct interests. The fund is expected to focus on non-auction processes starting from $5mn.

Coller Capital has also raised around $13bn in the past ten years.  Its latest secondaries vehicle, Coller International Partners VI, closed on $5.5bn in July 2012 and will purchase portfolios of private equity assets, including interests in established private equity funds and privately held companies.

Continue browsing industry reports, publications, conferences, blogs and more on Preqin Insights