The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
Applicants must have advised on at least $10 billion in committed capital across private equity funds, secondaries, and co-investments.
Insurance investors now account for nearly 25% of the manager's commitments, with parent company EQT eyeing opportunities to combine primary and secondary strategies.
The Scooter's Coffee continuation vehicle offered existing investors an exit at a premium to the reference-date valuation.
The sequel fund has secured $150 million from a California pension and will back venture and growth managers through GP stakes, fund commitments, and co-investments.
The potential deal is reportedly comprised mostly of LP stakes in Asian private equity funds, including vehicles managed by EQT, TPG Asia, and KKR.
The 15-asset vehicle, among the largest GP-led infrastructure deals to date, drew more than $7 billion of demand and included around $2.5 billion of new capital.
TPG GP Solutions II, which held a first close last year, had raised over $1.7 billion in capital commitments as of June.
The direct infrastructure secondary increases Transurban's ownership across three major Sydney transport networks.
