London-based Headway Capital Partners has closed its second private equity secondaries fund, Headway Investment Partners II, at €150 million (US$233 million).

Like its predecessor, HIP II will pursue a broad range of secondary investments including limited partnership positions in p.e. funds and direct p.e. investments and minority in Europe and North America.

“Most sellers have a number of different goals, including but not limited to an attractive valuation for their assets,” said co-founder Laura Shen Lefranc. “A successful secondary transaction must effectively address each of these goals. Sometimes this requires creative structures that are not outright asset sales but that are more joint venture like.”

Headway was founded in early 2004 by Lefranc, Christiaan de Lint and Sebastian Junoy.