Strategic Partners Fund Solutions has held the final closing of Strategic Partners Fund VI, its sixth secondary fund, at the hard cap of USD4.4 billion.
SP VI began investing in April 2014 and is focused on generating attractive, risk-adjusted returns by acquiring portfolios of high-quality private equity interests and co-investments.
Strategic Partners sourced commitments from almost 300 investors, including public, corporate and foreign pension funds, financial institutions, sovereign wealth funds, endowments, foundations and family offices. High net worth individuals also participated via private banking vehicles. Strategic Partners’ investor base is composed of limited partners in the US, Canada, Europe, the Middle East, Asia-Pacific and South America.
Stephen Can, co-head of Strategic Partners, says: “We could not be more pleased with the reception we received from investors globally in raising SP VI. We are grateful for the support that our limited partners have shown us, which has allowed us to conclude fundraising substantially ahead of schedule and focus on investing SP VI. We look forward to leveraging our expertise in the secondary space and to building on our track record as the ‘secondary buyer of choice’, by transacting on a fair, timely and confidential basis.”
Verdun Perry, co-head of Strategic Partners, says: “Strategic Partners is thrilled with the significant investor demand for our sixth secondary fund. We are excited to welcome both new and existing limited partners from around the globe, who have chosen to partner with Strategic Partners to capitalise on the growing opportunity in the secondary market.”
Strategic Partners was advised and supported in the raising of SP VI by the private funds team at Davis Polk & Wardwell.
