Capital Dynamics raises $564m secondaries vehicle

The vehicle is Capital Dynamics' largest ever fund to focus on direct secondaries, closing two-and-a-half years after it went on the road.

Capital Dynamics Global Secondaries IV (CDGS IV) had an original target of $350m and hard-cap of $500m, which was expanded during the fundraising.

The GP appointed Capital Dynamics Broker Dealer as a placement agent for its fund, which is based in New York.

Investors
Capital Dynamics said in a statement it had raised commitments from 70 LPs, spread across Europe, Asia, the US and the Middle East.

Investor types include pension plans, sovereign wealth funds, family offices, insurance companies and endowments.

Investments
CDGS IV will follow the strategy of its predecessor funds, investing in private equity secondaries assets such as LP interests, portfolios and recapitalisations in the US, Europe and Asia.

The fund will focus on small-sized, off-market transactions.

People
Capital Dynamics – Joseph Marks (global head of secondaries).

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