Arcano Partners has closed its fifth private equity secondaries fund at $1bn, surpassing its initial $600m target. The vehicle, launched in 2024, drew commitments from institutional and private investors across Europe and the Americas. It follows a predecessor fund that closed at $540m in 2023, showing strong growth in investor demand for liquidity solutions.

The fund targets smaller, less competitive transactions in the secondaries market, combining purchases of limited partner interests with GP-led deals. Arcano focuses on mid-market buyouts in Europe and North America, emphasizing resilient companies with conservative leverage. To date, it has executed over 30 secondaries transactions alongside direct co-investments with established managers.

This close reflects a broader trend as investors seek liquidity and attractive risk-adjusted returns amid a slower exit environment for private equity. Ricardo Miró Quesada, partner and head of private equity at Arcano’s asset management division, said the fund reflects confidence from both longstanding and new investors in the team's work. Expect Arcano to continue building a diversified portfolio across transaction types, sectors, and geographies.