The $185 billion manager expects repurchase requests in a Delaware-domiciled private equity evergreen vehicle to reach approximately 6% of NAV.
We highlight key aspects of the newly registered tender-offer fund, which will target both LP-led and GP-led secondaries.
The newly registered tender offer fund will primarily target mid- to late-stage private tech companies through primary and secondary investments.
One of which, Hamilton Lane Private Secondary Fund, raised its investment capacity by $500 million and saw its NAV climb 1.6x QoQ to $409 million as of March.
Neuberger Private Markets Access Fund, a $2.5 billion tender offer fund targeting small- and mid-cap companies, allocated 17% of its capital to GP-led secondaries as of June.
The firm also provided updates on its private equity evergreen fund and non-traded BDC, as well as plans to launch new products targeting the wealth segment.
The fund has already secured a $125 million anchor commitment from Beedie Capital following its acquisition of a 50% stake in Vistara.
Partners Group Private Equity Fund capped the requests at 5% of NAV, repurchasing ~$760 million of the shares through promissory notes.
The manager is considering legal action after a "frivolous, defamatory, and highly misleading" report targeting its evergreen platform was published by the short-selling hedge fund.
We dive into the evergreen fund's Q4 activity, which saw 61 of its 67 investments made in *checks notes* public markets.
