Friday, October 30, 2026
Secondaries news for GPs, LPs and fund service providers
FundOpsHQ
Secondaries funds, continuation vehicles and GP-stake deals, for GPs, LPs, and fund service providers.
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IMM Private Equity is raising about 1.8 trillion won in equity for a continuation fund to hold a roughly 66 percent stake in industrial gas maker Air First, valued at about 4.2 trillion won.
Ares held a first close of more than $8bn in equity commitments across its latest US senior direct lending program, combining Fund IV and the open-ended Core vehicle. The first close is 80% of target and about 60% larger than the prior vintage's first close.
Private Equity Wire · also HedgeCo, Bloomberg +2
Tree Line Capital Partners has closed a $680 million continuation vehicle co-led by PGIM and LGT Capital Partners, giving existing investors across several direct lending funds the option to take liquidity. The vehicle holds a seasoned book of senior secured, first-lien loans to more than 60 U.S. lower middle market companies.
Alternative Credit Investor · also AltAssets, Yahoo Finance +3
KKR closed its first private credit continuation vehicle with more than $460 million in commitments, holding assets of KKR Lending Partners III, with AllianzGI as lead buyer. The vehicle gave existing investors the choice to sell or roll over, and KKR Lending Partners III reported an 11.0% net IRR and 1.7x MOIC as of June 30, 2026.
Nautic Partners is raising a $3 billion continuation vehicle led by existing limited partners Carlyle AlpInvest and HarbourVest. The vehicle is roughly two-thirds the size of Nautic's $4.5 billion eleventh fund, which closed in October 2024.
From the directory: US professionals, each profile drawn from the firm’s own public bio page.