Northleaf Capital Partners has held the final closing of Northleaf Secondary Partners (NSP), its specialist private equity secondaries fund.
With strong support from both new and existing Northleaf investors, NSP raised USD255 million, surpassing its initial USD200 million target.
NSP will capitalise on attractive opportunities in the current market, building on Northleaf’s ten-year secondaries investment track record.
With the closing of NSP, Northleaf now has approximately USD600 million of capital available for secondary investments across its global private equity programme.
“Secondary investing has been a return enhancing component of our global private equity program since 2003,” says Michael Flood, managing director of Northleaf and co-head of the firm’s secondaries programme. “Given the prospect for strong returns and early cash distributions, secondaries are an important component of a well-diversified private equity programme. NSP will continue our established strategy of proactively targeting traditional secondary market purchases of fund interests, as well as both structured and direct secondary transactions. Our secondaries team is able to transact quickly, leveraging a sourcing model that draws on Northleaf’s global network of relationships with leading institutional investors, fund managers, intermediaries and other secondary buyers.”
“With USD600 million available for secondary investments, we target transactions where we have a competitive advantage and are pursuing deals that generally take place outside of the competitive auctions of large portfolios,” says Daniel Dupont, managing director of Northleaf’s London, UK office and co-head of the firm’s secondaries programme. “While our strategy remains focused primarily on smaller mid-market transactions, we also have the ability to scale up to larger transaction sizes, allowing us to evaluate a wide range of opportunities globally.”
