Fund Friday: Top fundraising news in private equity

Neuberger Berman is approaching the first close of its new $5bn secondary fund, as investor demand for liquidity solutions drives record activity in the secondaries market, Bloomberg reports.

The New York-based manager is expected to raise at least half the target by the end of 2025, building on $4bn already raised this year for a related strategy. Neuberger executives will also commit a minimum of $50m to the vehicle.

BlackRock is set to launch a venture secondaries fund targeting discounted stakes in venture capital portfolios, expanding its presence in the fast-growing secondary market, according to a report by Bloomberg.

The new vehicle, disclosed in recent regulatory filings, will be led by BlackRock executives Jarid Colucci, Derek Krouner, and Lisa Sun. It marks the firm’s first fund focused exclusively on secondhand venture positions, which typically trade at around 75% of net asset value compared with 94% for buyout stakes.

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Private equity firms and sovereign wealth funds are spearheading a dramatic rebound in London’s retail property market, with Savills forecasting over £2bn ($2.7bn) in investment across central London in 2025, the highest level since 2018, according to Bloomberg sources.

This resurgence has been most prominent in the West End, which accounted for £495m of the total in the first half of the year, marking a 19% year-on-year rise. The area’s appeal is strengthening due to long lease structures, low capital expenditure requirements, and a favourable debt environment.