Vision Capital has closed its seventh fund with €680m of capital, suggesting that investors believe that 2009 will kick off a boom in the private equity secondaries market.
Vision Capital Partners VII raised almost twice as much money as the firm’s sixth vehicle, which closed in 2006. The fund acquires mature positions in private equity funds, providing investors in those funds with a degree of liquidity.
London-based Vision Capital said that 90% of prior investors re-upped for the new fund, with 40% of the capital coming from new institutional and sovereign investors from the US, Europe, the Middle East and Asia.
Approximately 40% was raised from European investors, with the leading investors long-term partners Goldman Sachs Asset Management and HarbourVest, as well as CV Star and GIC Special Investments.
Source: Thomson Merger News