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Committed Advisors closing in on 750 mln euro target for Fund III

  • Committed Advisors Fund III targets 750 mln euros
  • Fund so far collects 700 mln euros
  • In market for about four months

Committed Advisors, the steadily growing secondaries shop, has raised about 700 million euros ($780 million) for its third fund, targeting 750 million euros, according to a person with knowledge of the fundraising.

Committed, launched by Daniel Benin and Barthélémy de Beaupuy in 2010, has been raising Fund III for about four months, the person said.

It’s unclear whether the fund has a cap or when it could hold a final close.

Committed Advisors targets middle-market secondary opportunities in North America, Europe and emerging markets. The firm last year opened its New York office, headed by J.B. Stock, and recently opened a Singapore office.

The firm closed its second fund on its 500 million euro hard cap in 2014 and its debut fund on 257 million euros in 2011. Performance information for the two funds wasn’t immediately available.

About 40 percent to 45 percent of Committed Advisors’ funds focus on North America, the same percentage range on Europe, and the rest on opportunistic transactions or emerging markets.

Committed chases pure LP-stake sales, as well as GP-led processes like restructurings.

Restructurings “will require even more due diligence and on-the-ground capacity to meet with different parties, not only with GPs but in many cases underlying portfolio management,” Benin told Buyouts in an interview last year.

Benin and de Beaupuy formed Committed after working at AXA PE (now called Ardian). Benin is former co-head of AXA PE’s New York office and Beaupuy was a former managing director in AXA PE’s Paris office.

Action Item: Reach Committed Advisors: http://bit.ly/297Wht7

Arrows stick in a target with a smiley icon duing the warmup for the men’s individual archery competition at the 1st European Games in Baku, Azerbaijan, on June 22, 2015. Photo courtesy Reuters/Kai Pfaffenbach