Investment management firm Federated Hermes has announced the successful launch and first round of capital raising for the sixth vintage of its flagship Private Equity Co-investment series (PEC VI) with initial commitments to the strategy of approximately $320m. Its previous vintage, PEC V, closed at $486m in 2023.
The first phase of fundraising attracted commitments from existing investors in previous vintages including one of Australia’s largest superannuation funds, and South Korean institutional investors comprising a major pension fund and a top-tier insurance company. The round also brought in the first Italian pension fund to the series. Further closes are expected to be held in 2026.
PEC VI focuses on lower mid-market buyout investments. The fund’s previous vintage, PEC V, recorded a median entry enterprise value of $144m. Federated Hermes Private Equity has deployed over $5bn into over 300 co-investments since inception.
