Aqualis Partners, the secondaries firm founded by veteran investor Cari Lodge, has set its sights on raising $750 million for a debut fund targeting smaller secondaries transactions. The Darien, Connecticut-based firm aims to capitalize on what it views as an underserved segment of the market.

The fund's strategy focuses on smaller secondaries deals that larger players often overlook, potentially filling a gap in the market. While it's unclear if fundraising has commenced, the target amount positions Aqualis as a notable new entrant in the competitive secondaries space.

Lodge brings over 25 years of experience in the global secondaries market to the venture, having launched Aqualis just last year. Her deep industry knowledge could prove valuable in executing the fund's differentiated strategy.

The move comes amid growing interest in secondaries as institutional investors seek liquidity solutions. By targeting smaller transactions, Aqualis may carve out a niche that complements rather than competes with established secondaries giants.