Federated Hermes, a specialist in active, responsible investing, has closed its fifth flagship private equity co-investment fund, with $480m in capital commitments, sursurpassung its original target of $400m.Â
Federated Hermes, a specialist in active, responsible investing, has closed its fifth flagship private equity co-investment fund (PEC V LP), with $480m in capital commitments, sursurpassung its original target of $400m.
The fund’s will employ a thematic strategy targeting companies operating in sectors set to benefit from long-term trends that are reshaping global economic activity. Additionally, the strategy places emphasis on portfolio construction, with the objective of delivering “strong and sustainable returns, irrespective of what happens on the global stage”.
PEC V launched and held its first close in December 2021. Commitments came from existing PEC series investors including, but not limited to, Local Pensions Partnership Investments and Hostplus, as well as new investors from Europe and Korea, including Samsung Life Insurance.
PEC V has already committed to 23 investments with a further seven approved. Federated Hermes GPE has a 22-year track record of making co-investments, having committed $4.5 billion across 278 global co-investments, as of 31 March 2023.
