PineBridge Investments has closed its secondary fund at $568 million, beating its $500 million. The limited partners of PineBridge Secondary Partners IV include pension plans, insurers, family offices and financial services organizations. The fund will focus on small to mid-sized globally diversified deals, both in the developed and emerging markets.
New York, 13 March 2018 – PineBridge Investments, a private, global asset manager, today announced the close of its latest secondary fund, PineBridge Secondary Partners IV (“PSP IV”), with total capital commitments of $568 million, above an initial target of US$500 million.
PSP IV attracted a global investor base, represented by a wide range of limited partners from the Americas, Asia, Europe and the Middle East, including pension plans, insurers, family offices, and financial services organizations. The fund has a focus on small to mid-sized, globally diversified transactions, both in the developed and emerging markets.
“We would like to thank our long-term investors for their ongoing support and welcome our new investors to PSP IV,” said Steven Costabile, Managing Director and Global Head of the Private Funds Group (PFG) at PineBridge Investments. “Since the beginning of our secondary program, we have benefited from our global platform in order to source small to mid-market transactions, while staying true to both our value orientation and disciplined underwriting approach for assessing risk and return.”
PFG’s global team has an on-the-ground presence in North America, Europe, Asia, and Latin America, and since 2000, has committed over US$15 billion to private markets. PFG focuses on multi-manager global growth, small and mid-market buyouts, credit, and mature assets with an attractive near-term distribution profile, and has a long history of providing customized solutions and adapting to the evolving private market landscape.
About PineBridge Investments
PineBridge Investments is a private, global asset manager focused on active, high-conviction investing. We draw on the collective power of our experts in each discipline, market, and region of the world through an open culture of collaboration designed to identify the best ideas. Our mission is to exceed clients’ expectations on every level, every day. As of 31 December 2017, the firm managed US$85.3 billion across global asset classes for sophisticated investors around the world.