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The Nordic-focused firm, which has closed its latest vehicle above target, wants to raise capital from US and Asian investors next time around.

The hope is that the transition remains amiable and smooth, in which case the existing GP will retain economic rights.

The sports and media-focused investor held a $2.6bn final close on its latest flagship vehicle this month.

The firm wants to create an institutional-quality product for the retail market, according to BCP Credit head Ted Goldthorpe.

Px3 Partners is understood to be hitting the fundraising trail with its inaugural pan-Europe-focused fund.

The funds will complement the GP stakes business, which co-president Michael Rees called 'one of the most underpenetrated spaces in all of alternatives'.

The SoftBank chief had received permission for a similar programme in Vision Fund 1 – a plan that was scrapped after colleagues pulled out.

Growth in separate accounts and retail evergreen products means the investment firm’s carry mix will change, its vice-chairman said on its latest earnings call.

The development comes a week after the world's biggest private equity investor said it was promoting its Asia-Pacific head to lead its global PE business.

The alternatives giant expects to have a 'fully ramped up retail distribution business' in place for the launch of its next private equity flagship, it disclosed on Wednesday.