Founded in 2007, PennantPark is a mid-market-focused private credit manager with around $10 billion in AUM.
The firm launched a dedicated credit secondary strategy around this time last year and has reportedly deployed around $500 million across five deals.
PGIM, reinvesting LPs, and PennantPark also invested in the oversubscribed vehicle for a mature portfolio of private credit investments.
The strategy is reportedly targeting $1 billion, three years after General Atlantic took a minority stake in Clipway.
StepStone Secondaries Infrastructure Fund is approximately 50% deployed across LP-interest and GP-led transactions.
Founded in 2000, Saints Capital specializes in venture secondaries with a focus on GP-led transactions.
The Euronext Amsterdam-listed manager is also preparing to launch two additional products focused on credit and infrastructure secondaries.
The AllianzGI-managed vehicle focuses on senior debt opportunities across the US, Europe, and Asia, a spokesperson told SecondaryLink.
The reported push places the New York-based firm among a growing list of managers looking to capitalize on the $30 billion opportunity.
Following Coller's recent acquisition by EQT, the two managers also plan to expand into real asset secondaries and develop a secondaries insurance offering.
