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Hermes GPE raises $620m

The global private markets investor attracts support from new and existing limited partners for its latest co-investment vehicle.

Hermes GPE PEC III Co-Investment Fund has held a final close at $389 million, beating its original target of $300 million. A further $230 million was raised for a sidecar and segregated co-investment mandates, bringing the global platform’s total to $620 million. The fund received support from ten investors, both existing and new.

The Canada Pension Plan Investment Board, Ardian, the Local Pensions Partnership and State Teachers Retirement System of Ohio are among the investors in the vehicle.

Hermes GPE PEC II Co-investment Fund held a final close at $480 million in November 2014.