Secondaries firm Committed Advisors has closed its second fund at its hard cap of 500 million euros. Committed Advisors Secondary Fund II was targeting 400 million euros. Investors include endowments, family offices, pension plans, financial institutions and high net worth individuals.
Committed Advisors is pleased to announce the final closing of its second fund, Committed Advisors Secondary Fund II (the “Fund”) with €500 million of commitments at its hard cap. The Fund initially targeted to raise €400 million. Investors encompass endowments, family offices, pension plans, financial institutions and sophisticated high net-worth individuals.
Daniel Benin, Managing Partner commented: “We would like to thank our existing investors for their continued support and also warmly welcome the new subscribers and their advisors joining us for the second fund. We exceeded the targeted size but stayed committed to our pre-set hard cap despite substantial excess demand. Achieved size will enhance the Fund’s capacity to deliver on its small and mid-market secondary investment strategy.”
Barthelemy de Beaupuy, Managing Partner added: “The Fund is off to a very robust start having already completed nine transactions since December 2013. With the conclusion of our fundraising process, we will now exclusively focus on investments, capitalizing on a steady flow of opportunities in our niches.”
The Fund is the successor to Committed Advisors Secondary Fund I which held its final closing in June 2011 with €257 million of commitments and is now fully invested having completed 27 transactions. Like its predecessor, Committed Advisors Secondary Fund II is dedicated to acquiring mature private equity assets in North America, Europe and emerging countries in the small and midsized segments of the private equity secondary market. It acts as a provider of liquidity to owners of fund interests and/or portfolios of direct holdings in private companies via tailor-made transactions ranging from €1 million to €75 million in size. Its primary focus is on buy-out and growth equity assets, yet it retains the ability to address opportunities in the distressed, turnaround, venture capital and sector-specific spaces.
Committed Advisors has been advised by Clifford Chance.
About Committed Advisors
Founded in 2010, Committed Advisors is an independent private equity investment manager headquartered in Paris, France with a regional office in Sydney, Australia. The team comprises ten professionals including partners Daniel Benin, Barthelemy de Beaupuy, J.B. Stock and Guillaume Valdant. Committed Advisors SAS is regulated by the French financial market supervisory authority (Autorité des Marchés Financiers or “AMF”).
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