Hollyport Capital (Hollyport), a specialist secondary investor focused on capturing value in legacy private equity assets, has closed its ninth flagship fund, Hollyport Secondary Opportunities IX (Hollyport IX). The fund was oversubscribed and raised $4.3bn, including the General Partner’s commitment, which exceeded the Fund’s $3bn target and is more than double the size of its predecessor fund. The firm raised an additional $250m through separately managed accounts, taking total platform commitments to over $4.5bn.
The fund had a re-up rate of 150%, while having over $1bn of new capital from across the globe. Its institutional investor base comprises sovereign wealth funds, private banks, pension funds, healthcare systems, endowments, foundations and family offices. Since inception, Hollyport has completed over 200 secondaries transactions and has delivered a pooled net return to investors of 1.84x and an IRR of 26%.
Hollyport IX has invested approximately $1.1bn across 12 secondary transactions and the fund is expected to be over 30% deployed by the end of the year.
