Portfolio Advisors has held the final closing of its globally diversified private equity fund-of-funds, Portfolio Advisors Private Equity Fund VIII (PAPEF VIII) with total commitments of USD1.22 billion.
Limited partners include private and public pension plans, university endowments, private foundations, insurance companies, family offices and high net worth individuals. Approximately 70 per cent of the total limited partner commitments to the Fund came from investors who had previously invested in one or more PA-sponsored funds.
"We are very pleased and grateful for the continued trust and support of our investors," says Brian Murphy, Managing Member of Portfolio Advisors, LLC.
The structure of PAPEF VIII permitted each limited partner to customize its commitment by selecting its desired sector allocations and proportions of private equity exposure from among three principal primary strategy choices – Diversified Buyout, Diversified Venture Capital and Diversified Special Situations – as well as Secondaries and Co-Investments.
PAPEF VIII has been making commitments to primary funds, purchasing direct secondary fund interests and participating in co-investments since its initial closing in 2013.
The firm's previous diversified private equity fund-of-funds, PAPEF VII, closed at USD1.09 billion in 2013.
