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The move will enable roughly 85,000 DC members, representing around £1bn of funds, to select a private markets allocation within their investment programme.

The firm is also on track to open offices in Paris and Sydney before the end of March, according to its latest earnings announcement on Thursday.

The Thoma Bravo co-founder stays upbeat amid rising political risks and has some warnings for the private equity industry.

The firm has closed Baring Asia Private Equity Fund VII on its $6.5bn hard-cap.

The firm has been focusing on more institutional-quality opportunities in the region, according to its co-chief executive.

MidRail claims the Swiss firm has been 'unjustly enriched' at its expense through 'exploitation of MidRail's confidential information'.

The firm appointed Myron Zhu, former co-head of APAC PE at Aberdeen Standard Investments, in August to build out its third-party capabilities in Asia.

The firm will invest throughout the capital structure after previously being a senior debt-only shop.

Fewer China-headquartered PE funds reached final close last year as trade tensions, high valuations and concerns over tech exposure hindered capital raising efforts.

If the fund reaches its €14.75bn target, it will be one of the largest European private equity funds ever raised.