Montana closes debut secondaries fund on €80m

Montana has pledged an additional 4% of committed capital to MCP Annual Secondary Program LP.

Zug-based Montana was set up in 2011 by Marco Wulff and Christian Diller, formerly co-head of secondaries and head of structuring at Capital Dynamics respectively.

At launch, the team also counted Wanching Ang, former CEO of Allianz Private Equity Partners, and Christof Kaserer, an adviser to the German government on private equity regulation – both sitting on Montana's advisory board. Today the team numbers more than 10, including the board of directors, plus an advisory board of five.

Investors
Investors are mostly European family offices as well as institutional investors.

Investments
The GP raises capital annually and offers investors a one-year investment period, meaning shorter investment lifetimes operating outside the typical J-curve.

Through the shorter investment period, investors receive their capital back three years after the investment period of this fund, which has a total lifetime of seven years. The fund acquires single-fund stakes, tail-end portfolios, funds-of-funds and structured solutions.

People
Montana is run by Marco Wulff and Christian Diller.

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• Topics
• Fundraising
• DACH
• Secondaries
• Switzerland