Rod James
When it comes to pricing, speed is of the essence for LPs looking to sell portfolios, yet is only one piece of the puzzle.
Macquarie estimates there could be $50bn-$67bn of infrastructure secondaries AUM by 2025, compared with $18.6bn last year.
Stafford has raised its fourth flagship vehicle at a time of strong demand for inflation-resistant asset classes such as infrastructure.
The placement agent has formally launched a secondaries advisory business focused on infrastructure and credit, having soft launched two years ago.
ASF VIII Infrastructure has already invested 30% of its capital, including acquiring a $1.5bn portfolio offloaded by insurer Northwestern Mutual.
The firm has raised at least $125.6m for Vintage Infrastructure Partners from 115 investors.
GIP is responsible for two of the largest-ever single-asset secondaries deals, having moved Gatwick Airport into a £3bn continuation fund in 2019.
The GP is looking at ways to hold on to 'champions' for longer, according to CEO Alex Saigh.
The deal overtakes Alaska Permanent Fund's $1bn sale of a portfolio of stakes to Strategic Partners in July last year, Secondaries Investor understands.
The supply of GP-led deals should continue to outstrip demand as more sponsors try to keep their best assets for longer, according to chief executive Mario Giannini.