International family office Stonehage Fleming has closed its inaugural annual fund with $166 million raised for the strategy, including separate accounts.
The Stonehage Fleming Global Private Capital Fund 2016 will target five to seven best-in-class small and mid-market GPs who don’t have access to a family office. According to the firm, the investments will give them exposure to between 50 and 100 portfolio companies.
Stonehage Fleming has deployed more than $1.5 billion in funding since 2001. Currently, the firm advises on more than $40 billion in assets, which includes an investment business that manages over $12 billion for families and charities.
In November 2014, London-based investment firms Fleming Family & Partners and Stonehage merged to create a multi-family office. Though initially named Stonehage Fleming Family and Partners, the company rebranded as Stonehage Fleming in September 2015.
Correction: A previous report on this item misstated the focus of the fundraising. It has since been clarified.
Photo of money tree courtesy of iStock/imagedepotpro