The proposal from PE manager Pathway looks to raise the 2025 target allocation for secondary investments well beyond the current 5% range.
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.
Ares Real Estate Secondaries X will invest across LP-led portfolio sales, GP-led transactions, and structured secondary deals.
The proposed vehicle would invest across the manager's Infrastructure Opportunities series as well as co-investments and GP-led secondaries.
PIMCO Private Income Fund targets performing private credit across hard assets, financial assets, and corporate credit, including through secondaries.
PJT has reportedly been selected to advise on trimming the sovereign wealth fund's portfolio.
