The new flagship offering's target size is 12% larger than Fund IX, closed in 2021 at $5.6bn.
Combining Dover Street XI and its co-investment vehicle Secondary Overflow Fund V, the manager has raised $18.5bn to deploy into secondaries deals.
TPG Partners X is expected to roll out in the first half of 2025, while Apollo Investment Fund XI is expected to debut by the end of next year.
Setty tells us about her dream job as CEO of Global Citizen, her love of all things French and why focusing on the J-curve has its shortcomings.
In taking over from Suyi Kim, Gubbels will become CPP Investments’ second consecutive female private equity head.
The survey, conducted by Barnes & Thornburg, found that 96% of LPs thought it was important for a GP they invest in to have a succession plan.
A difficult fundraising environment is giving LPs more leverage to negotiate issues such as key person time requirements and automatic termination of investment periods.
The flagship fund, targeting $12.5bn with a $15bn hard-cap, is expected to hold a final close in the early months of 2025, sources told Buyouts.
With SEC rules scuttled, trade group seeks 'something that the industry can work together on collaboratively,' Neal Prunier says.
Some private equity-backed assets have grown so large that only a handful of other sponsors or strategic buyers could acquire them outright.