PineBridge Investments has closed its new secondary fund at $880 million. PineBridge Secondary Opportunity Partners will focus on U.S. middle-market buyout funds.
New York and London, 24 October, 2018 – PineBridge Investments announced today the close of PineBridge Secondary Opportunity Partners (“PSOP” or the “Fund”). PineBridge’s Private Funds Group (“PFG”) raised the $880 million Fund over five months with the goal of providing investors with access to a global and diversified private equity secondary portfolio.
The Fund primarily provides clients with exposure to US middle-market buyout strategies, with additional global exposure, and has interests in mainly the industrials, consumer discretionary, financial and information technology sectors.
In March, the firm closed on the PineBridge Secondary Partners IV fund (“PSP IV”), raising $568 million and surpassing its $500 million target.
“PineBridge PFG continues to have a successful year, not only closing our flagship PSP IV secondary fund above target, but also raising an additional $880 million for our PSOP fund,” said Steven Costabile, Managing Director and Global Head of the Private Funds Group. “This speaks to our team’s ability to execute global secondary transactions, regardless of size, profile or geography.”
PineBridge’s Private Funds Group has committed over US$15 billion to private markets since 2000 and has executed approximately $4.5 billion of secondary transactions as of 2018. The Private Funds Group has a global presence in North America, Europe, Asia, and Latin America and manages more than 500 limited partnerships with 300 unique GP relationships, and approximately 100 Advisory Board seats. The group’s core focus is on the global small and mid-market opportunity set within private markets.
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 30 June 2018, the firm managed US$87.0 billion across global asset classes for sophisticated investors around the world.