PEI reported in 2020 that the firm was mid-way through the process of spinning out incrementally over four vintages.
The RMB fund targets Chinese LPs and aims to hold its first close this year.
The fund secured $2.1bn in Q4, together with more than $400m in side-car co-investment capital, according to chief financial officer Alan Kirshenbaum.
Chief executive Harvey Schwartz identified the firm's wealth business as one of its key strategic objectives for 2024.
The firm's latest and largest fund will have diversity targets for portfolio company leadership teams, according to partner Nnennia Ejebe.
Private equity fundraising fell for the second year in a row last year, with the number of funds closed almost matching the number seen in 2017.
Managing director Rohan Wolfers tells PEI that Australia's 'relatively low-risk profile in the current macroeconomic and geopolitical climate' is attractive to potential investors.
The key differences between Europe’s ELTIF and the UK’s LTAF, from eligibility requirements and borrowing limits to management and governance.
GPs need to get ready for increasing compliance requirements, especially as the industry expects more inflows from individual investors, a conference has heard.
Capital raised in final closes last year slid to $785bn, with total inflows to the smallest number of vehicles since 2019.