Portfolio Advisors raises $1bn for global fund-of-funds
Portfolio Advisors has closed its latest global multi-strategy fund-of-funds – which allows LPs to customise allocations across several key areas – with commitments of just over USD 1bn.
Portfolio Advisors Private Equity Fund XI was oversubscribed, having launched with a target of USD 750m, according to a statement. Fund X closed in late 2020 on USD 812m. The LP bases for both vehicles feature the likes of public and private pension plans, endowments and foundations, insurance companies, family offices, and high net worth individuals.
Customisation options span four primary sectors (US mid-market buyout, global buyout, venture capital, and special situations) and two opportunistic sectors (secondaries and co-investment).
The firm started covering Asian private equity in 2005 it has deployed more than USD 2.3bn across nearly 130 primary fund commitments, secondary transactions, and co-investments to date. Operating out of Hong Kong and Singapore, the eight-person team focuses on the growth equity and small to mid-sized buyout segments.
Portfolio Advisors has USD 38.3bn in assets under management (AUM) across private equity, private credit, real estate, and customised mandates that cut across asset classes. Earlier this year, it announced a merger with FS Investments, which primarily serves the wealth management segment. The combined entity will have USD 73bn in AUM.
At the end of 2021, Portfolio Advisors closed its latest dedicated co-investment and secondaries funds with commitments of USD 721m and USD 2.67bn, respectively.
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