There are more secondary funds seeking capital in Europe now than at any time in the past five years and experts say there is more room for growth.

There are 14 funds looking to raise $28bn, an 20% increase compared with the $23bn that nine funds were targeting in January last year, according to data provider Preqin. The figure is also considerably higher compared with the $5bn in capital managers were targeting in the first month of 2018.