Pictet Alternative Advisors closes Monte Rosa V on USD1.164bn

Deal-making

Pictet Alternative Advisors (PAA) has held the final close of Monte Rosa V, the fifth fund in a series of diversified, multi-manager private equity funds, at at USD 1.164 billion.

Maurizio Arrigo, head of Private Equity at PAA, said that the capital raise positions Pictet as a "leader in the global private equity sector, capable of attracting both high net worth individuals and traditional institutional investors.”

Monte Rosa V will invest mainly in North American and European buyout funds, as well as in other geographies (for example China, Australia, emerging markets, but to a lesser extent). It will also invest in venture capital, growth and turnaround funds.

“As this fund is 1.5 times bigger than its predecessor which we closed in 2017, this successful fundraising reinforces the important role private equity plays in investors’ strategic asset allocation,” added Arrigo.

Close to 20 per cent of the fund will be deployed in co-investments and secondary transactions. At the time of closing, the programme was 50 per cent committed already.

The raise received support both from existing investors in the Monte Rosa funds, as well as from new investors in different geographies. 

“We are very selective when adding new relationships and strive to identify private equity teams that stand out for their track record, specific strategy and investment discipline,” explained Arrigo.

PAA launched the Monte Rosa arm in 2008 and launched Monte Rosa I with the intention of offering private equity to a wider range of clients. 

Today PAA manages USD15.5 billion in private equity, of which USD12.5 billion is in segregated accounts and USD2.9 billion in the Monte Rosa commingled fund of funds programme.

Mature programs have generated an annualised net performance of more than 13 per cent and a net total value to paid-in (TVPI) of 1.65x to date, according to Pictet.

Investors in previous funds include pension funds, financial institutions, foundations, family offices and HNWI. Since the launch almost 30 years ago, PAA has committed to more than 150 private equity funds and participated in 155 co-investments.