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Laxman Pai, Opalesque Asia: American institutional investment firm Commonfund said that its private-capital arm CF Private Equity closed its newest and largest investment program targeting secondhand stakes in private-equity assets.
CF Private Equity, which mainly invests on behalf of smaller and mission-driven endowments and foundations, said it collected $1.1 billion for Commonfund Capital Secondary Partners IV Opportunities Fund, exceeding its $750 million target. It raised another $110 million for a fund to co-invest in larger deals alongside the main vehicle.
The fund is also larger than its predecessor fund, which was $675 million, according to a press release from the asset management firm.
"The overage fund is an overflow vehicle that will co-invest alongside the flagship in investments where there is excess capacity. In total, the latest dedicated secondary funds closed on over $1.22 billion," it said.
According to the release, the fund benefited from strong support from our existing investors and an expanded investor base including LPs across the U.S. and Europe. It included family offices, insurance companies, pensions, RIAs, private wealth platforms, healthcare companies, endowments, and foundations.
Cari Lodge, Global Head of CF Private Equity Secondaries said, "We are extremely grateful for the strong support from our existing and new investors. It has been a very successful fundraise due to our differentiated strategy and our consistent a...................... To view our full article Click here
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