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 strategy will focus on single-asset continuation vehicles alongside existing sponsor relationships.
NorthSands Capital I targets single-asset continuation vehicles in well-known sectors, including industrials and industrial services companies.
Founded in 2000, Saints Capital specializes in venture secondaries with a focus on GP-led transactions.
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 2025 SecLink Awards winner has returned $4.6 billion of capital to investors through five strip sales over the past two years.
The firm's second dedicated fund for the strategy exceeded its $1 billion target, bringing total single-asset CV investment capacity across its secondaries platform to $7 billion.
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 Sydney-based manager has launched its inaugural fund, targeting investments across five AI growth vectors.
"We believe this segment will remain a meaningful driver of activity and deployment for our secondary platform going forward," said Co-CEO Erik R. Hirsch.
