Committed Advisors closes fourth secondary fund on €1.6bn

The fund was oversubscribed and had an original target of €1.25bn, set in the second half of 2019.

The vehicle's predecessor fund, CASF III, closed on €1bn in April 2017. Together with CASF II, which closed on €504m in 2014, and CASF I, which closed on €257m in 2011, the predecessor funds have completed in excess of 100 transactions over the last 10 years.

Based in Paris, the firm was founded in 2010 by former Axa Private Equity executives Daniel Benin and Barthelemy de Beaupuy. Other managing partners include JB Stock and Guillaume Valdant.

Investors
LPs to make commitments to the fund included pension funds, financial institutions, family offices and high-net-worth individuals across Europe, North America and the Asia-Pacific region. 

"There were 35-40 new LPs, with a significant number coming from outside Europe, where there has been increasing interest over the last few years, especially from North America and Asia," founder and managing partner Daniel Benin told Unquote.

Investments
The fund will do both GP-led deals and traditional LP secondaries, with the former now accounting for 40% of all dealflow compared to roughly 20% less than 10 years ago, Benin said.

The vehicle – which aims for €10-100m tickets sizes across all types of PE funds – is already 20% deployed.  Roughly 60-70% of the fund stakes acquired are in the mid-market space.

Committed Advisors also has a growing Asian PE secondaries niche. "There is a maturing Asian private equity market that lends itself well to an emerging secondaries strategy. This has really picked up in the last three to four years with a number of deals – mainly GP-led – coming to market," said Benin.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Secondaries
• Secondaries