| Log in
Photo Credit: Shah Junaid/VCCircle

Portfolio Advisors closes third secondary fund above target

25 January, 2018

US-based investment firm Portfolio Advisors LLC, which has been present in India for over a decade, has closed the latest secondary fund at $1.5 billion (Rs 9,535 crore) in limited partner commitments.

The third fund, Portfolio Advisors Secondary Fund III, which had an original target of $1 billion, was oversubscribed and reached its hard cap with support from new and existing limited partners from around the globe, the firm said in a statement.

A significant portion of the capital for the third fund was committed by limited partners who had previously invested in one or more of Portfolio Advisors’ existing funds. PASF III is the largest fund closed to date for the investment firm.

Hugh Perloff, managing director and head of secondary investments at Portfolio Advisors, said the third fund seeks to acquire partnership interests in individual funds and/or portfolios of funds, managed by high-quality general partners. “We expect the fund to benefit directly from the strength and breadth of the Portfolio Advisors’ platform,” Perloff said.

Portfolio Advisors has been purchasing secondaries since 2003. Its secondary funds capitalise on the general partner relationships established by the firm since its founding in 1994 and have been a natural extension and complement to Portfolio Advisors’ fund-of-funds and advisory businesses.

PASF III has institutional limited partners including institutional clients such as public and corporate pensions, labour union plans, endowments, foundations and family offices as well as high-net-worth investors from the US and other regions, including Canada, South America and Europe.

The private markets investment firm has more than $20 billion in assets under management. It provides tailored private equity, private real estate and private credit investment solutions through commingled funds and custom advisory solutions via primary partnerships, secondary purchases, co-investments and direct mezzanine investments.

Among its India exposure, Portfolio Advisors has backed private equity firm Kedaara Capital, which made the final close at $795 million (Rs 5,100 crore) against its target of $750 million.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
Axiom Asia Capital Raises $1.15B For Third Fund Of Funds

Axiom Asia Capital Raises $1.15B For Third Fund Of Funds

Madhav A Chanchani 6 years ago
Axiom Asia Private Capital Management Services, LP, an Asia-focused fund of,...
What is Blume Ventures planning for its third VC fund?

What is Blume Ventures planning for its third VC fund?

Joseph Rai 10 months ago
Early-stage venture capital firm Blume Ventures, which marked the final close of...
Exclusive: IDFC Alt in talks with LP, secondaries specialist to sell PE funds biz

Exclusive: IDFC Alt in talks with LP, secondaries specialist to sell PE funds biz

After divesting the asset management business, multi-asset manager IDFC...
No Comments

Portfolio Advisors closes third secondary fund above target

Powered by WordPress.com VIP