The vehicle aims to build a portfolio of around 15 middle-market companies, primarily in Europe, through GP-led secondary strategies and direct minority co-investments.
The single-asset vehicle extends B2B software investor Viking Growth's hold on a recruitment and HR software platform.
The oversubscribed vehicle for Ireland-based H&MV Engineering values the power infrastructure specialist at €1.4 billion, marking a 12x increase since Exponent's initial 2022 investment.
In July, the firm closed its debut program targeting the strategy with more than $5.5 billion in capital commitments.
The alternatives manager also gave updates on the fundraising status of several other secondaries strategies spanning private equity, GP-leds, venture capital, and infrastructure.
The Norwegian manager's latest €445 million hybrid investment vehicle is already 70% deployed, SecondaryLink has learned.
Potential backers reportedly sought a lower valuation for the loans held in the continuation fund.
The single-asset deal centers on a health and social care software provider first backed by Activa in 2019.
The London-based manager has shelved plans for the strategy's mid-market version, to avoid overlap with the upcoming large-cap vehicle.
March PE Secundarios I, which has a target size of €60 million, will focus on GP-leds and direct minority co-investments.
