Paul Capital has closed its ninth secondaries fund with $1.65 billion in capital commitments.
Paul Capital, an innovative leader in the private equity market, today announced the final closing of its ninth dedicated private equity secondaries fund, Paul Capital Partners IX, L.P. (“Paul IX”). The fund comprises US$1.65 billion in capital commitments and is focused on providing liquidity to holders of private equity around the world. Paul IX closed above its hard cap of $1.5 billion due to strong demand from investors. Its global investor base includes endowments, public and corporate pensions, sovereign wealth funds and family offices. Paul Capital now manages over US$4.2 billion dedicated to secondary private equity.
Paul IX will focus on the acquisition of secondary private equity portfolios, including interests in limited partnerships and portfolios of direct investments. Paul IX will continue to draw on the firm's extensive relationships with institutional investors and general partners through seven offices around the world, including emerging markets.
“Secondary transactions enable investors to manage their liquidity profiles by treating private equity holdings as they would most any other asset class” said David de Weese, General Partner, Paul Capital. “Increasingly, banks, insurance companies, pension funds, family offices, and other holders of private equity are turning to us to help them trim their portfolios and manage risk exposure and liquidity.”
A pioneer of the secondary market, Paul Capital has built upon its global reach, creative deal structuring, and reputation for fairness and discretion since 1991 to provide liquidity solutions to limited partners around the world.
“Investors continually seek us out for liquidity given our reputation for innovative solutions and unique deal structures. In this current market environment, such creative thinking and discreet approaches are welcomed more than ever. We are excited about the opportunities for Paul IX”, said Bryon Sheets, General Partner of Paul Capital.
About Paul Capital
Founded in 1991, Paul Capital manages US $6.6 billion in capital commitments for its three investment platforms that include private equity secondaries, healthcare royalty and revenue interests, and venture capital fund of funds. The firm has offices in Hong Kong, London, New York, Paris, San Francisco, S