The majority of backers for the SL Capital Secondary Opportunities Fund III were UK-based multi-family offices and high-net worth investors, as well as public and institutional schemes, alongside others in the US.
Aberdeen Standard beat its own $400m target, raising $428m from 31 investors and pushing the total raised across the three secondary funds it has launched since 2014 to more than $900m.
Stewart Hay, head of institutional client solutions, said: “Clients have been very supportive of the secondaries strategy since it was launched in 2014.
“To have reached over $900m of capital for the programme demonstrates the strong demand for niche private equity exposure.”
The firm had worked closely with investors at the early stages of product development to create a strategy and fee that suited them.
SOF II raised $291m by the end of its fundraising in May 2015, with demand evidently rising for the third iteration of the fund.
The strategy of SOF III will focus on niche areas of the secondary market using Aberdeen Standard Investments current private markets platform.
