Unigestion hits €190m for secondaries; €70m for Environmental Fund

Kimberly Romaine
07 June 2011

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Unigestion has reached a final close of €190m for its Secondary Opportunity Fund II LP, unquote” can reveal.

The amount is comfortably ahead of its €150m target and reached its hard-cap.

"Secondaries had a record 2010 and will continue to grow in the next couple of years," Hanspeter Bader, managing director at Unigestion told unquote". Indeed more than $20bn was transacted last year, nearly three-times the 2009 total, as reported by unquote" in February.

Unigestion's secondaries vehicle is currently 50% invested across 13 transactions, and expects to be 60% invested in a couple of weeks' time. The investments are mostly in Europe, which Bader describes as Unigestion's "core competence", with a few in the US. None are yet in Asia.

The firm also expects to reach a first close of €60-70m for its new environmentally-focused fund this month. The Unigestion-Ethos Environmental Sustainability LP fund will seek up to €150m total and will invest in 10-14 funds focused on growth capital, with a bit of late-stage venture and alternative energy projects. It will invest in the US, Europe and Asia.

"There was a bit of a bubble in valuations in this sector in 2006 and 2007," Bader explains. "But now valuations are down and so there are very attractive deal doing opportunities for private equity."