Unigestion, a privately owned asset manager, has completed the first closing of Unigestion Secondary Opportunity II.
To date, commitments to the fund total EUR135m. Unigestion expects to reach the target size of EUR150m shortly. The hard cap is set at EUR200m.
The fund will purchase secondary stakes in funds through small to mid-sized transactions (typically EUR5m to EUR15m) benefiting from the discounts currently available in the secondary market.
Unigestion expects to complete 20 to 25 transactions over the next 24 to 36 months.
Hanspeter Bader (pictured), managing director of Unigestion’s private equity activities, says: “We are delighted to complete the first closing of the Secondary Opportunity Fund, which coincides with a marked increase of quality deal-flow in our sweet-spot of small to medium sized transaction opportunities. In the current financial climate we believe the fund’s opportunistic approach, based on careful analysis of the underlying companies’ characteristics, will deliver significant value for investors over the longer term.”
