Private markets specialist Portfolio Advisors held a first close on its latest secondary fund at the end of December 2019, having raised between $600m and $700m, a source told Unquote.
Charcoal and natural additives company saw final bids from two banks and one direct lender
VCs including the Swiss Entrepreneurs Fund, BtoV and Ringier Digital Ventures also participated
Around 40 existing and new LPs, including British Patient Capital and the EIF, participated
Fund will invest in buyouts, recapitalisations and carve-outs of both profitable and underperforming businesses