Vision Capital, an investor that buys portfolios of assets from private equity firms in the secondaries market, is understood to be raising up to €1.5bn ($2.2bn) in fresh capital, kicking off a wave of secondaries fundraisings expected this year.

The target for Vision Capital Partners VII is more than four times the size of its previous committed fund, Vision Capital Partners VI, which had core commitments of €350m when fundraising closed in 2006.