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Exclusive: Committed Advisors reaches €300 mln first close

Committed Advisors, the secondary firm formed by two former AXA Private Equity executives, has held a first close on €300 million for its second fund, which is targeting €400 million, according to a person with knowledge of the process.

Committed Advisors declined to comment.

The firm was launched by Daniel Benin, former co-head of the New York office at AXA PE (now called Ardian), and Barthélémy de Beaupuy, former managing director in Paris at AXA PE.

Fund II was launched around the end of summer, the person said, and could end marketing in the first quarter. Committed Advisors expects another close before the end of the year, the person said. Fund II may see a 100 percent re-up rate from existing investors, the person said.

Committed Advisors Secondary Fund I, a 2010 vintage, closed on €257 million from limited partners including family offices, institutional investors and high net worth individuals, according to the firm’s website.

Fund I is fully deployed, and the firm has already made two investments from the second vehicle.

Earlier this year, Committed Advisors joined Headway Capital Partners in backing the spinout of a team from Loudwater Trust, a closed-ended investment company incorporated in Guernsey that was being liquidated. As part of the transaction, valued at about £10.53 million, a new fund was formed to hold the remaining assets of Loudwater Trust. The fund is being managed by Loudwater Investment Partners.