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Laxman Pai, Opalesque Asia: The global asset management firm focusing on private assets Capital Dynamics has raised approximately USD 786 million in commitments for its latest fund - Capital Dynamics Global Secondaries V (GSEC V).
The Fund exceeded its initial target size of USD USD700 million and significantly surpassed the size of its predecessor secondaries fund, which closed in July 2016, said a press release from the fund manager and investment adviser with $15 billion in assets under management and advisement.
"The secondaries space is going through a renaissance with the level of creativity and variety of transaction types available in the market today," says Joseph Marks, Head of Secondaries at Capital Dynamics.
"Since the start of the Covid-19 pandemic, we have experienced heightened deal flow from high-quality sponsors seeking LP liquidity or fund restructuring options to weather the volatile macroeconomic environment. With support from our firm's dedicated primaries investment team, we have maintained strong relationships with more than 350 private equity general partners, which continue to provide ample deal flow opportunities," Joseph added.
GSEC V continues Capital Dynamics' secondary investment strategy focused on smaller off-market opportunities sourced on a global basis across a wide range of transaction types, including LP interests, fund recapitalizations, and structured portfolio solutions, said the release.
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