Schroders' fund of private equity funds is on track to meet its €250m ($295m) target in the next six months after a first close of €110m.
The money raised by Schroders Fund of Funds II has already been put to use in such high-profile funds as Permira Europe III, Europe's largest buy-out fund at €5.1bn, and Abingworth, Europe's biggest bioscience fund raising €325m.