The firm's tenth vehicle, which is targeting at least $22 billion in size, arrives as Blackstone's secondaries deployment reaches record levels.
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.
The increase was driven by continued strength in the firm's evergreen strategies, notably in AlpInvest and asset-backed finance, according to CFO Justin Plouffe.
The firm's lower fees in its flagship secondary funds will be offset by growth in its private wealth assets, according to CFO David Park.
SecondaryLink outlines the IRR and MOIC of several secondary funds managed by Blackstone.
The firm is looking to match the size of its predecessor, which closed in 2023 with $22 billion in capital commitments.
The firm plans to adjust the fee structure in its flagship secondaries funds to better align with prevailing market practices.
SecondaryLink outlines the IRR and MOIC of several secondary funds managed by Blackstone.
The firm's secondaries business topped the $100 billion AUM milestone during the first quarter.
SecondaryLink details the firm's full-year secondaries activity, including earnings growth, fundraising, and performance.
