Capital Dynamics Global Secondaries V closes on $786m

The fund exceeded its initial target of $700m and significantly surpassed the size of its predecessor secondaries fund, which closed on $564m in July 2016.

GSEC V received commitments from institutional investors and private wealth platforms across the US, the Middle East, Europe and Asia.

The fund invests in a diversified portfolio of global secondaries interests in mid-market private equity funds. It plans to continue Capital Dynamics' secondaries investment strategy focused on smaller off-market opportunities sourced on a global basis across a wide range of transaction types, including LP interests, fund recapitalisations and structured portfolio solutions.

"The secondaries space is going through a renaissance with the level of creativity and variety of transaction types available in the market today," said Joseph Marks, head of secondaries at Capital Dynamics. "Since the start of the Covid-19 pandemic, we have experienced heightened dealflow from high-quality sponsors seeking LP liquidity or fund restructuring options to weather the volatile macroeconomic environment.

"With support from our firm's dedicated primaries investment team, we have maintained strong relationships with more than 350 private equity general partners, which continue to provide ample dealflow opportunities."

Capital Dynamics is an independent global asset manager focusing on private assets including private equity, private credit, secondaries and clean energy infrastructure.

The firm offers a diversified range of tailored offerings and customised products for a global client base composed of pension funds, insurance firms, corporations, banks, wealth management platforms, foundations, endowments and family offices. The firm oversees more than $15bn in assets under management and advisement.

Headquartered in Zug, Switzerland, Capital Dynamics employs approximately 160 professionals across its offices in New York, London, Paris, Tokyo, Hong Kong, San Francisco, Munich, Milan, Florida, Birmingham, Dubai and Seoul.

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