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Alternative Market Briefing

Newbury Partners raises $2bn for private equity secondaries

Tuesday, December 07, 2021

Laxman Pai, Opalesque Asia:

Secondaries private equity veteran Newbury Partners closed its fifth private equity secondary fund with capital commitments from new and existing investors totaling $2 billion, exceeding its original target of $1.75 billion.

According to a press release from the Investment bank that specializes in acquiring buyout, venture capital, and mezzanine limited partnership interests in the secondary market, NEP V brings the firm's assets under management to more than $6.2 billion.

The funds' limited partner base includes leading pension funds, family offices, insurance companies, endowments, and corporations across North America, Europe, Latin America, Asia, and Australia.

"NEP V will continue to target privately-negotiated, small and mid-sized transactions in the private equity secondary market, which Newbury believes provides investors with attractive risk-adjusted returns and consistent cash distributions compared to those available from primary investments in newly formed private equity funds," said the press release.

Newbury's transactions typically range from $1 million to $100 million in size, which the firm sees as a less competitive space given the focus of market intermediaries and large secondary funds on larger transactions.

Newbury Partners was established in late 2006 by an experienced team of senior investment professionals focused on the secondary private equity market, said the release.

The firm mana......................

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