Rod James
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.
GIP’s Gatwick deal is the biggest single-asset secondaries deal ever, as affiliate title Secondaries Investor reveals its debut list of the largest continuation vehicles.
The vehicle has already made six investments, accounting for 51% of committed capital.
The alternatives asset manager had one of its strongest quarters, with total AUM rising 21% year-on-year to $649bn.
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