Key Takeaways
- • A North American pension fund is exploring commitments to six infrastructure secondaries funds managed by Ares, Blackstone, HarbourVest, Macquarie, Pantheon and Partners Group, according to PEI Secondaries Investor.
- • The article reports targeted returns and fundraising milestones for these sizeable infrastructure secondaries raises, which are being marketed to institutional investors.
- • The disclosure offers allocators a read on current pricing and return expectations in infrastructure secondaries, a segment where large managers are competing for LP capital.
Summary
PEI Secondaries Investor reports that a North American pension fund is exploring commitments to six infrastructure secondaries funds managed by Ares, Blackstone, HarbourVest, Macquarie, Pantheon and Partners Group. The article, written by Madeleine Farman and Hannah Zhang and published on 19 May 2025, focuses on the targeted returns and fundraising milestones disclosed for these sizeable raises.
The pension's interest spans a mix of established alternative asset managers and specialist secondaries platforms, reflecting the breadth of institutional demand for infrastructure exposure acquired through the secondary market. Secondaries strategies in infrastructure typically offer investors access to seasoned portfolios of assets with shorter visibility to cash distributions than primary commitments, and LPs evaluate them against target net returns and fundraising timetables.
The full article details the return targets and milestones for each vehicle. Readers seeking the specific figures should refer to the original PEI Secondaries Investor report, as the publisher summary available for this analysis does not itemize them.
The pension's interest spans a mix of established alternative asset managers and specialist secondaries platforms, reflecting the breadth of institutional demand for infrastructure exposure acquired through the secondary market. Secondaries strategies in infrastructure typically offer investors access to seasoned portfolios of assets with shorter visibility to cash distributions than primary commitments, and LPs evaluate them against target net returns and fundraising timetables.
The full article details the return targets and milestones for each vehicle. Readers seeking the specific figures should refer to the original PEI Secondaries Investor report, as the publisher summary available for this analysis does not itemize them.
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