Private Advisors raises $420 mln for eighth fund

Private Advisors has closed its eighth private equity fund at a hard cap of $420 million. Fund VIII invests in the lower-middle market. Its limited partners include pension plans, foundations, endowments, insurance companies and family offices.


RICHMOND, VA – June 26, 2019 – Private Advisors, LLC (“PA”) a leading private equity investor in the Low Mid Market, held a final close for its eighth small company private equity fund (“Fund VIII”) at its hard cap of $420 million.

Fund VIII invests broadly across the Low Mid Market, including funds typically less than $500 million, direct co-investments, and opportunistic secondary transactions. The Fund has been actively investing during the fundraising period, and PA expects it to be fully committed during the third quarter of 2019.

Chris Stringer, President of PA said, “We are extremely appreciative of our dedicated limited partners and their continued support of our private equity program. Over 75% of Fund VIII’s commitments came from existing relationships. We are also very excited to gain several new investors and further expand our global LP base.”

Limited partners consist of global institutional investors such as pension plans, foundations, endowments, insurance companies, and family offices. PA employees and the firm’s parent organization, New York Life, made meaningful commitments, underscoring a strong alignment of interests with investors.

Todd Milligan, Head of Private Equity at PA, commented, “The entire PA platform and network continues to be additive to our sourcing process and enables the Fund to commit to the highest quality managers in the space. We are also pleased that the Fund successfully invested in several co-investments and secondaries that are helping to mitigate the j-curve more quickly than in prior funds.”

About Private Advisors
Private Advisors, LLC (“PA”) is a leading alternative investment firm managing over $4.8 billion in assets as of March 31, 2019. PA sources, underwrites, structures, and manages investments in small to mid-sized managers and direct transactions across the liquidity spectrum. PA’s integrated platform has expertise in small company private equity, real assets, credit, and long/short equity. The long-term nature of the firm’s capital and range of expertise provides origination and diligence advantages that benefit its investors. PA builds commingled and customized portfolios on behalf of investors that seek to preserve and grow capital. PA is an affiliate of New York Life Investment Management LLC, an indirect subsidiary of New York Life Insurance Company.