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The UK SME specialist is seeking to increase its 15-strong deal team as it continues to put capital to work.
The mid-market firm has attracted demand in excess of €5bn for its latest offering.
The Zurich-headquartered private equity firm is seeking slightly north of $200m for Adveq Secondaries III.
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The London-based mid-market lender can underwrite and hold up to €300 million.
After closing its debut small-cap fund in March, the European firm has hit the €1.8bn hard-cap for its latest flagship fund.
The sale of the outdoor clothing and equipment retailer GO Outdoors 18 years after its initial investment will deliver around 40x for the SME specialist’s investors.
The fund will be led by Adam Koppel, who rejoined the firm this year from biotechnology company Biogen, and Jeff Schwartz, who moves over from Bain’s private equity team.
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The firm has raised €250m for its second growth capital fund and it aims to have it wrapped up in Q1 2017.
The firm now has $547m to deploy for its ‘strategic secondaries’ fund, which targets GP-led transactions.
Like others in the series, the new fund, which targeted $5bn and closed earlier this week, focuses on PE control investments, corporate and consumer debt, real estate and real estate debt.