Private markets specialist Portfolio Advisors has held the final close of the Portfolio Advisors Private Equity Fund XI at just over $1 billion in limited partner commitments. The fund was oversubscribed and surpassed its original target of $750 million.
Private markets specialist Portfolio Advisors (PA) has held the final close of the Portfolio Advisors Private Equity Fund XI (PAPEF XI) at just over $1 billion in limited partner commitments. The fund was oversubscribed and surpassed its original target of $750 million.
PAPEF XI allows limited partners to customise their allocations across four primary sectors (US mid-market buyout, global buyout, venture capital and special situations) and two opportunistic sectors (secondaries and co-investment). The fund also offers a model portfolio reflecting PA’s recommendations based on current market conditions.
PA says the fund attracted support from a diverse group of limited partners, including private and public pension plans, university endowments, private foundations, insurance companies, family offices and high net worth individuals. A significant proportion of the fund’s commitments came from investors who had previously invested in one or more PA-sponsored funds.
PA’s previous diversified global private equity commingled fund, PAPEF X, raised $812 million in December 2020.
