Private Advisors has closed its oversubscribed seventh small company private equity fund (Fund VII) at its hard cap of USD350 million.
Fund VII focuses exclusively on the small company market in North America where Private Advisors has been a leading investor for more than 20 years. The Fund primarily invests in lower-middle market buyout, growth and distressed private equity funds (typically less than USD750 million in size), along with targeted equity co-investments and opportunistic secondary investments.
“We are grateful to our limited partners for their continued support as almost 70 per cent of the Fund came from existing investors. We are also very excited to gain many new investors and further expand our LP base outside the US,” said Chris Stringer, President of Private Advisors.
The Fund’s investor base primarily includes institutional investors such as pension plans, foundations, endowments, insurance, and family offices. Private Advisors’ employees and its parent organisation, New York Life Insurance Company, made meaningful commitments, underscoring a strong alignment of interests with investors.
Todd Milligan, Partner on the Private Equity team, says: “We are pleased to have already committed over 50 per cent of the Fund to high quality and access constrained investments, and we continue to see compelling opportunities ahead. We believe our broad investment platform and longstanding dedication to the small company market provide distinct sourcing, relationship and diligence advantages for our partners.”
