Pictet Alternative Advisors (PAA), the alternative investment specialist of the Pictet Group, has held the final close at USD815 million of Monte Rosa IV, the fourth fund in a series of diversified, multi-manager private equity funds.
Maurizio Arrigo, head of private equity at PAA, says: “This is 2.5x bigger than the predecessor fund that closed in 2015. This successful fundraising comes as a confirmation that private equity has now become a major asset class, playing a meaningful role in most investors’ strategic allocation.”
Monte Rosa IV will invest mostly in North American and European buyout funds and to a lesser extent in other geographies (emerging markets) and other strategies (venture capital, growth and turnaround). Around 20 per cent of the fund will be deployed in co-investments and secondary transactions. At the time of closing, the programme was 20 per cent committed.
Regardless of the fund size, the portfolio construction will remain unchanged. Pictet Alternative Advisors’ existing network currently numbers 40 active relationships.
Arrigo says: “We are very selective when adding new relationships and strive to identify private equity teams that stand out by their track record, niche strategy and investment discipline, among other things.”
