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Laxman Pai, Opalesque Asia: Pictet Alternative Advisors (PAA), the alternative investment specialist of Pictet Asset Management, has closed two private equity strategies after raising $2.5bn.
The European alternative investment firm announced the closing of its private equity flagship Monte Rosa Fund VI at $1.6 billion and its Monte Rosa Co-Investment V at $900 million.
The two strategies overseen by the firm's alternatives specialist will focus on buyout funds and co-investments said a press release from the firm.
The two strategies are the Monte Rosa VI - the sixth fund in its series of diversified, multi-manager private equity funds - while the Monte Rosa Co-Investment V is the fifth vehicle focused on co-investments.
"The two funds have raised an aggregate amount of $2.5 billion in capital commitments from a diverse range of investors including clients from Pictet's wealth management business alongside a range of institutional investors, primarily in Europe. These fundraisings saw substantial interest from existing investors in the Monte Rosa franchise and from a new and geographically diversified set of clients" said the release.
Monte Rosa VI raised a total of $1.6 billion, largely exceeding the predecessor vehicle that was launched in 2019 totaling $1.2 billion in commitments.
According to the release, Monte Rosa VI will invest primarily in North American and European buyout funds with smaller allocations across other geographies (...................... To view our full article Click here
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