Lazard is expected to advise on the vehicle.
The Toronto-based manager primarily invests in Series A and Series B technology companies.
The StepStone-backed transaction reportedly extends Blackstone's ownership of a loan portfolio from its Capital Opportunities Fund IV.
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.
The CV would reportedly acquire ByteDance and Ant Group stakes at a roughly 30% discount to their combined $1.5 billion NAV.
Founded in 2006, Excellere is a private equity firm focused on growth-oriented investments across healthcare, industrial growth, and business services.
GCM Grosvenor, Ardian, StepStone, North Hudson Resource Partners, and Phoenix Insurance anchored the single-asset vehicle for energy infrastructure company Next Wave.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
M-One Capital's single-asset continuation fund is part of a comprehensive recapitalization of the US drive-through coffeehouse chain.
The deal marked the 13th and final investment from New 2ND's third GP-led secondaries fund, Partner and COO Evert Vink told SecondaryLink.
