The firm recently closed its debut GP-led fund, which focuses on single-asset CVs, with over $3.6 billion in capital commitments.
TPG GP Solutions II, which held a first close last year, had raised over $1.7 billion in capital commitments as of June.
Ares Real Estate Secondaries X will invest across LP-led portfolio sales, GP-led transactions, and structured secondary deals.
After closing on $1.5 billion in commitments for Hamilton Lane Infrastructure Opportunities Fund II earlier this year, the firm is expected to launch a successor in late 2026 or early 2027.
The strategy will focus on single-asset continuation vehicles alongside existing sponsor relationships.
The vehicle is targeting a first close before year-end and will focus on hard-to-access sponsor-led opportunities in small- and mid-market buyouts.
The pension's PE team has seen increasing GP adherence to ILPA guidance on continuation fund transactions.
NorthSands Capital I targets single-asset continuation vehicles in well-known sectors, including industrials and industrial services companies.
The continuation fund extends the firm's hold on security and safety solutions provider Convergint Technologies.
Sage Equity Investors, which focuses on single-asset continuation funds, significantly exceeded its $1.5 billion target.
