New 2ND Capital is nearing the close of its flagship secondaries fund, targeting $1.25bn, with expectations to finalize fundraising by year-end or in Q1 2027, according to Secondaries Investor.

The firm, known as New 2ND, has reportedly gathered significant commitments, bringing the vehicle close to the $1bn mark. The fund focuses on secondary transactions in private equity, catering to institutional investors seeking liquidity.

Market conditions have favored secondaries fundraising, with strong investor appetite for portfolio diversification. New 2ND's track record in the mid-market segment has attracted both existing and new limited partners.

The fund's strategy emphasizes GP-led transactions and structured solutions, differentiating it in a competitive landscape. Investors have responded positively to the team's disciplined approach and alignment of interests. A final close in the coming quarters would position the firm among the larger secondaries managers.