Darien, Connecticut-based Portfolio Advisors, a private markets specialist, has closed its oversubscribed ninth global private equity fund-of-funds at about $1.18 billion, beating its $900 million target. The limited partners of Portfolio Advisors Private Equity Fund IX include private and public pension plans, university endowments, private foundations, insurance companies, family offices and high-net worth individuals. PA’s previous global private equity-fund-of-funds raised $1.22 billion in April 2016.
Private markets specialist Portfolio Advisors, LLC (“PA”) has held a final close on its ninth global private equity fund-of-funds, Portfolio Advisors Private Equity Fund IX (“PAPEF IX” or the “Fund”), raising approximately $1.18 billion in limited partner commitments. The Fund was oversubscribed and surpassed its original target of $900 million.
PAPEX IX was supported by a diverse group of limited partners, including private and public pension plans, university endowments, private foundations, insurance companies, family offices and high net worth individuals. A significant proportion of the Fund’s commitments came from investors who had previously invested in one or more PA-sponsored funds.
Similar to its predecessors, the Fund’s structure allows limited partners to customize their allocations across three Primary (Buyout, Venture Capital and Special Situations) and three Opportunistic (Secondaries, Co-Investments and Mezzanine) sectors, as well as a model portfolio reflecting PA’s recommendations based on current market conditions.
“We’re extremely pleased with the support PAPEF IX received from both new and existing investors,” said Brian Murphy, Managing Member of PA. “We believe PA’s flexible, menu-driven approach to limited partner allocations is a strong complement to our dedicated primary, secondary, and co-investment strategies.”
PA’s previous diversified global private equity fund-of-funds, PAPEF VIII, raised $1.22 billion in April 2016. Private markets funds managed by PA have raised more than $18 billion in commitments across private equity, private real estate and private credit, in addition to advisory and separate account mandates.
About Portfolio Advisors
Headquartered in Darien, CT and founded in 1994, Portfolio Advisors, LLC is an independent, private markets investment specialist with more than $23 billion in assets under management. The firm also has offices in Switzerland and Hong Kong. Portfolio Advisors provides tailored private equity, private real estate and private credit investment solutions through commingled funds and custom advisory solutions via primary partnerships, secondary purchases, co-investments and direct mezzanine investments.
Portfolio Advisors has been an Investment Advisor registered with the U.S. Securities and Exchange Commission since 1994, and is also a Qualified Professional Asset Manager in the U.S.