Global investment solutions provider Russell Investments has launched its second Private Markets Fund focusing on a growth strategy, following the successful closing of Russell Investments Private Markets Fund 2019 last year, which raised USD185 million.
Utilising Russell Investments’ open-architecture structure and fund selection capabilities, Private Markets Fund 2021 LLC will seek to provide UK professional investors including wealth managers, family offices, insurance companies and pension funds with opportunistic exposure to attractive private markets segments, predominantly in the US and Europe.
The Fund will be comprised of up to twenty “best-of-breed” opportunities across a range of private markets segments, each with a complementary strategic, industry or regional emphasis. It will seek to deliver a net internal rate of return (IRR) of 11-13 per cent, utilising concentrated exposure to secondaries-orientated investments, alongside more traditional primary and potential co-investment opportunities.
“Appetite for exposure to private markets has grown significantly in recent years, as investors seek new sources of return to meet their long-term goals,” says Brett Deits, Portfolio Manager of Private Markets Fund 2021 LLC at Russell Investments. “We see extremely attractive opportunities in multiple private markets segments, particularly around technology and innovation. We believe this second Private Markets Fund offers a compelling solution for investors seeking full access to private market investments.”
This new fund launch follows Russell Investments’ announcement earlier this year of a strategic partnership with Hamilton Lane to accelerate its private markets capabilities.
