With a $1.1 billion investment capacity, the vehicle will invest in diversified secondary opportunities across private equity and private credit.
The Euronext Amsterdam-listed manager is also preparing to launch two additional products focused on credit and infrastructure secondaries.
The strategy will target both GP-led and LP-led transactions, with an emphasis on secured exposure to asset-backed businesses.
"The successful launch of our Credit Secondaries Fund reflects growing investor demand for dedicated private credit secondary solutions," said CIO Fred Pollock.
The AllianzGI-managed vehicle focuses on senior debt opportunities across the US, Europe, and Asia, a spokesperson told SecondaryLink.
The reported push places the New York-based firm among a growing list of managers looking to capitalize on the $30 billion opportunity.
StepStone Credit Opportunities Fund II, which focuses on secondaries and co-investments, is 2.6x the size of its 2022 predecessor.
Following Coller's recent acquisition by EQT, the two managers also plan to expand into real asset secondaries and develop a secondaries insurance offering.
SecondaryLink outlines the DPI, TVPI, and IRR of the private equity secondaries series managed by HarbourVest Partners.
SecondaryLink outlines the TV/C, DPI, and IRR of the private equity secondaries series managed by HarbourVest Partners.
