Portfolio Advisors fund-of-funds hits $1bn mark

01 May 2009

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Fund

Portfolio Advisors has closed its latest private equity fund-of-funds, Portfolio Advisors Private Equity Fund V (PAPEF V), on just over $1bn, surpassing its $900m target. The fund, which has a lifespan of approximately 12 years, was launched in the summer of 2007 and held its first close in the same year. The firm's previous fund, PAPEF IV, raised $982m in 2007.

Investors

LPs include private and public pension plans, university endowments, private foundations, insurance companies, family offices, and high-net-worth individuals based in the US and Europe.

Investments

The structure of the fund is such that LPs were able to select their desired sector allocations from among five areas of private equity: diversified buyouts, US middle market buyouts, European buyouts, venture capital, and special situations. In aggregate, the LPs allocated approximately one third of the funds to buyout, venture, and special situation sectors respectively.

The fund has been making commitments to primary funds and purchasing direct secondary fund interests since its initial closing in 2007. PAPEF V does not make co-investments.

People

The fund is managed by the investment committee of PAPEF V, which is comprised of the firm's senior professionals. Portfolio Advisors operates from offices in Connecticut and Zurich.

Name: Portfolio Advisors Private Equity Fund V

Closed on: $1.045bn April 2009

Focus: Buyouts, venture, special situations

Address:

Portfolio Advisors, LLC

Seefeldstrasse 35

8008 Zurich

Switzerland

Tel: +41 44 200 3500

Fax: +41 44 200 3501.