Pictet Alternative Advisors raises USD350m for debut thematic private equity fund
Pictet Alternative Advisors (PAA), the alternative investment specialist of the Pictet Group, has held the final close of its debut thematic private equity fund focused on technology at its hard cap of USD350 million.
The Pictet Thematic Private Equity – Technology is a fund of funds exclusively dedicated to technology investments and innovation.
PAA’s expertise in building diversified portfolios, that include investments in tech companies of different maturity stages (from venture capital, growth and buyout) has allowed investors to gain exposure to several layers of the technology investment landscape with a mitigated risk approach.
The Pictet Thematic Private Equity – Technology fund was launched in October 2020, with a target fund size of USD300 million and reached its hard cap at USD350 million, underlining the strong appetite for this type of strategy. The fund is managed by the Thematic team under Pierre Stadler, Head of Thematic Private Equity at PAA who brings 15 years’ experience in Private Equity investing.
Stadler says: “Reaching the hard cap with this new initiative represents a strong achievement. It is not only a testimony of the continued trust of our investors, but it also demonstrates they are eager to participate in more niche and specialised products. We are proud to rely on a well-diversified investor base which includes pension funds, financial institutions, foundations, family offices and high net worth individuals (HNWIs)”.
Stadler adds: “Pictet has nurtured longstanding and close relationships with a limited number of private equity firms where access to investment funds can otherwise be restricted. We are highly selective when forging new relationships and strive to identify tech teams that stand out for their track record, network and deal sourcing capabilities, specific strategy and investment discipline.”
Building on this success, the Thematic franchise should soon expand its offering into new themes. A healthcare/biotech dedicated fund will be launched in early 2022. PAA manages over USD20 billion in private equity and offers diversified private equity portfolios, since its debut more than 30 years ago, via dedicated tailor-made mandates or commingled products. Besides the newly created Private Equity Thematic franchise, PAA is well-known for its established Monte Rosa franchise created in 2008. The Monte Rosa franchise includes diversified multi-sectorial and multi-strategy fund of funds.