London-based Clipway secures $6.4 billion for its first secondaries fund, surpassing its $4 billion target by 60%.
Clipway, a London-based firm founded by Ardian alumni, has closed its maiden secondaries fund at $6.4 billion, setting a global record for a debut vehicle in the space. The fund exceeded its $4 billion target by 60%, attracting commitments from 186 limited partners across Europe, the Americas, the Middle East, and Asia.
The firm, established three years ago, leverages an AI-driven system called TESS to source and underwrite deals, competing with larger incumbents. Europe accounted for 44% of capital raised, while North and Latin America contributed 21%, the Middle East 18%, and Asia 17%. Strategic partners include Mubadala Investment Company, Carmignac, and General Atlantic.
Clipway’s approach focuses on LP-led secondaries, using technology to modernize traditional investment strategies. The fund’s size underscores growing investor appetite for secondaries despite a trend toward capital consolidation among established players.