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.

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