PineBridge Investments has closed PineBridge Secondary Opportunity Partners (PSOP) having raised over USD880 million in five months. The fund will aim to provide investors with access to a global and diversified private equity secondary portfolio.
The fund primarily provides clients with exposure to US middle-market buyout strategies, with additional global exposure, and has interests in mainly the industrials, consumer discretionary, financial and information technology sectors.
In March, the firm closed on the PineBridge Secondary Partners IV fund (PSP IV), raising USD568 million and surpassing its USD500 million target.
“PineBridge PFG continues to have a successful year, not only closing our flagship PSP IV secondary fund above target, but also raising an addition USD880 million for our PSOP fund,” says Steven Costabile, Managing Director and Global Head of the Private Funds Group. “This speaks to our team’s ability to execute global secondary transactions, regardless of size, profile or geography,”
PineBridge’s Private Funds Group has committed over US$15 billion to private markets since 2000 and has executed approximately $4.5 billion of secondary transactions as of 2018. The Private Funds Group has a global presence in North America, Europe, Asia, and Latin America and manages more than 500 limited partnerships with 300 unique GP relationships, and approximately 100 Advisory Board seats. The group’s core focus is on the global small and mid-market opportunity set within private markets.