Exclusive: Committed Advisors closes fund on €500m hard-cap

The fund, which held a €300m first close last December, is already 20% deployed

Paris-based Committed Advisors has reached its €500m hard-cap for its latest secondaries fund, PEI has learnt.

Committed Advisors Secondary Fund II, which will close in the next few days, is oversubscribed, according to a source familiar with the matter.

Committed Advisors declined to comment on fundraising.

The vehicle had a 100 percent re-up rate with most investors increasing their commitments, the source added. The fund, which held a €300 million first close last December, has already made nine transactions and is approximately 20 percent deployed, it is understood.

Committed Advisors was set up in 2010 by former professionals from AXA Private Equity, now known as Ardian. It focuses on small and mid-sized transactions and provides a broad range of solutions to investors seeking liquidity, according to its website.

The firm is led by Daniel Benin and Barthélémy de Beaupuy. Prior to founding Committed Advisors, Benin worked from 2000 to 2009 at AXA Private Equity as a managing director and co-head of the New York office, and was responsible for sourcing and executing both secondary and primary investments. De Beaupuy also worked from 2002 to 2009 at AXA Private Equity as a managing director in the Paris office, where he was responsible for sourcing and executing primary and secondary investments.

The firm’s maiden fund, Committed Advisors Secondary Fund I collected €257 million in 2010. It attracted commitments from a range of family offices, institutional investors and high net worth individuals.