The firm's GP Stakes team has completed six investments to date, including minority interests in Hayfin, Monroe, Rivage, and Latour.
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 transaction creates a $2.6 trillion manager spanning public and private markets, including secondaries and semi-liquid investment platforms.
The deal, which includes future fund commitments, expands Temasek's exposure to Italy's mid-market.
The Geneva-based firm targets late-stage single-asset secondary investments across technology and digital ventures.
The deal would reportedly expand the firm's presence in Europe and boost its infrastructure exposure.
The partnership will also develop products for wealth investors, beginning with an evergreen private equity secondaries fund expected in the coming weeks.
The second vintage of the secondary strategy has reached half of its €500 million target, and the programme has completed five investments across GP- and LP-led transactions.
The firm has appointed Loïc Beaumont as Head of Private Equity to lead the initiative that targets LP-led secondary positions in European buyout funds.
The partnership reflects "strong conviction with regards to the broad development of the secondaries market," said Gilles Dusaintpère, Head of GP Stake Investments at BNPP AM Alts.
