Grove Street Advisors, a private equity fund investor with approximately USD5bn in assets under management, has received USD650m in new commitments.
New programmes have come from four existing clients of the firm as well as a new sovereign wealth fund relationship.
“We are grateful for the support of our existing clients, each of whom has partnered with us for nearly 10 years, as well as for the important new client relationship we recently launched,” says Frank Angella, a managing partner of Grove Street Advisors. “Our customised separate account structure offers clients the ability to augment their internal staff and to access attractive smaller and/or fully subscribed funds that are inefficient for them to cover directly. We believe our consistent strategy and the long tenure of our team makes us a valuable partner, both for our clients as well as the leading fund GPs with whom we invest.”
The new investment programmes span a wide range of investment objectives: two of the programmes target diversified private equity strategies globally; two other programmes are targeting smaller buyouts and fully subscribed venture funds; and one is focused on technology private equity from early stage venture through to growth capital, tech buyouts and restructuring.
