A UK secondaries private equity firm is facing an uphill struggle to reach its fundraising target, as two of Europe’s largest managers rush to collectively raise €4bn in just three months.

Greenpark Capital, the UK-headquartered firm that specialises in buying interests in private equity funds, is still less than half way to its $1.2bn target for its latest fund - Greenpark International Investors IV - after almost two years on the road, according to two people familiar with the situation. Ordinarily, a private equity firm will have hoped to have completed its fundraising after two years.