Portfolio Advisors has announced the final closing of its global diversified private equity fund-of-funds, Portfolio Advisors Private Equity Fund VI (PAPEF VI), with total commitments of USD1.103 billion. Limited partners include private and public pension plans, university endowments, private foundations, insurance companies, family offices and high net worth individuals. More than 80% of the total limited partner commitments to the Fund came from investors who had previously invested in one or more PA-sponsored funds.
The structure of PAPEF VI permitted each limited partner to customise its commitment by selecting its desired sector allocations and proportions of private equity exposure from among three principal strategy choices—Diversified Buyout, Diversified Venture Capital and Diversified Special Situations—with the further ability to make choices among three sub-sectors (US Middle Market Buyout, Europe & Rest-of-World Middle Market Buyout and Distressed). All sectors include opportunistic secondary market purchases.
PAPEF VI has been making commitments to primary funds and purchasing direct secondary fund interests since its initial closing in 2008.
The firm’s previous diversified private equity fund, PAPEF V, closed at USD1.045 billion in 2008.
Portfolio Advisors, LLC is an independent, employee-owned firm that provides a full range of private equity and private real estate investment advisory and portfolio management services to sophisticated investors in North America, Europe and Asia.