Capital Dynamics, an independent global private asset management firm, has held the final close of Capital Dynamics Global Secondaries V (GSEC V) with approximately USD786 million in commitments.
Advised by a multinational team across North America, Europe and Asia, GSEC V invests in a diversified portfolio of global secondary interests in mid-market private equity funds. The Fund exceeded its initial target size of USD USD700 million and significantly surpassed the size of its predecessor secondaries fund, which closed in July 2016.
GSEC V continues Capital Dynamics’ secondary investment strategy focused on smaller off-market opportunities sourced on a global basis across a wide range of transaction types, including LP interests, fund recapitalisations and structured portfolio solutions. The Fund set an all-time Capital Dynamics fundraising record, receiving commitments from institutional clients and private wealth platforms across the United States, Middle East, Europe and Asia, and demonstrates the platform’s network of close partnerships and track record of value creation.
“The secondaries space is going through a renaissance with the level of creativity and variety of transaction types available in the market today,” says Joseph Marks, Head of Secondaries at Capital Dynamics. “Since the start of the Covid-19 pandemic, we have experienced heightened deal flow from high-quality sponsors seeking LP liquidity or fund restructuring options to weather the volatile macroeconomic environment. With support from our firm’s dedicated primaries investment team, we have maintained strong relationships with more than 350 private equity general partners, which continue to provide ample deal flow opportunities.”
“The significant investor demand for GSEC V is a testament to the strength of our private markets platform and proven ability to meet the financial needs of our sophisticated institutional and private wealth clients,” says Martin Hahn, CEO of Capital Dynamics. “We greatly appreciate the unwavering support from both new and existing partners in this latest private equity secondaries vintage, focused on providing attractive, long-term returns.”
