AI-driven secondaries firm Clipway has held the final close on $6.4 billion for its debut vehicle, significantly exceeding its original $4 billion target. The Clipway Secondary Fund launched in June 2023 with the lower target, according to data from affiliate title Secondaries Investor. The firm was founded by a group of former top-level executives from Ardian, joined by professionals from Coller Capital and New York City Retirement Systems.

This substantial oversubscription highlights strong investor appetite for AI-enabled secondaries strategies. The fund focuses on debt secondaries, leveraging artificial intelligence to identify and execute transactions in the private equity secondary market. Clipway's founding team brings deep experience from leading secondaries firms, positioning the newcomer to compete effectively in the growing GP-led and LP-led secondary segments.

The final close represents one of the largest debut secondaries funds in recent years, underscoring confidence in the firm's technology-driven approach and experienced leadership.