Some LPs not in need of liquidity use the secondary market as a way to tweak their portfolio's construction, which is the case with IMCO.
The five-year fundraising total for the top 10 on our list was just under $660bn, while the total for the top 50 firms was $1.63trn.
The pension giant is investing in smaller, newer and off-beat funds – and leads the way in our survey of the busiest and biggest LPs.
TPG ascends to the third slot on the Buyouts 100, in no small part because of its astute early picks of new growth areas.
Although the Buyouts 100 has its usual suspects at the top of the heap, what’s especially notable this year is its number of freshman entrants, led by tech buyout shop STG.
If 20% of expected climate investment is accounted for by private markets, TPG executive chairman Jim Coulter said, 'spending... will be bigger than the entire private equity industry is today.'
GTCR has made minority investments in the past, but Capital Solutions is a formalization of the strategy with a dedicated capital pool.
Along with the flagship fund, L Catterton is raising a fifth growth vehicle, targeted to bring in $1.25bn.
While LP sales slowed around spring, activity has picked up and sources expect inventory to increase as the market moves into the third quarter.
A key aspect of the firm's strategy is sourcing opportunities it believes 'would benefit from the growth of the US Hispanic population.'