Hermes GPE raises $389m for latest co-investment fund

The firm received commitments from investors including Ardian and CPPIB.

Hermes GPE held a final close on $389 million for its Hermes GPE PEC III Co-Investment Fund, surpassing the original $300 million target.

The co-investment vehicle received commitments from investors including ArdianState Teachers Retirement System of Ohio, Local Pensions Partnership, Hostplus and Canada Pension Plan Investment Board. The programme will be deployed alongside $230 million of separate account capital the firm had previously raised.

The capital will be used to make co-investment in a diverse number of sectors in North America, Asia-Pacific and Western Europe.