Committed Advisors targets €1.25 bln for mid-market secondaries

Committed Advisors, a mid-market secondary shop formed in 2010, is targeting €1.25 billion euros ($1.4 billion) for its fourth fund, a person with knowledge of the firm told Buyouts.

The firm was launched by ex-AXA PE (now Ardian) executives Daniel Benin and Barthélémy de Beaupuy in 2010. It generally invests €40 million to €80 million in middle-market secondary deals, including fund trades and GP-led liquidity processes.

Committed Advisors splits its focus primarily in Europe and the U.S., with a smaller percentage going to areas outside those regions, including in Asia.

The middle-market deal space is less competitive than the larger side of the market, where billions of dollars have been raised for deals.

The lower to middle market, by contrast, is targeted by only a handful of secondary firms like Committed Advisors, including Kline Hill Partners, Willowridge Partners and several others.

Since it launched, the firm has consistently raised new funds every few years. It closed its debut on €257 million in 2011; raised €500 million for Fund II in 2014; and just over €1 billion for Fund III in 2017.

Along with Benin and de Beaupuy, Committed Advisors is led by Partners P.J. Stock in New York and Guillaume Valdant in Paris. The firm has 21 employees, with 16 investment professionals. It would like to expand its investment team to 20 employees by the end of 2019, the source said.

Last year, Committed Advisors and NewQuest Capital Partners anchored a deal that recapitalized a portfolio of tech and digital services assets managed by Singapore-based Basil Partners, with additional capital for add-on investments.

Action Item: Check out Committed Advisors’ Form ADV here: https://bit.ly/2truaBe