HQ allocates 30 percent to secondaries for latest fund

HQ Capital’s latest fund of funds includes a US and European vehicle, respectively seeking a blend of primary and secondary investments.

HQ Capital has allocated approximately 30 percent to secondaries transactions for their latest closed fund of funds vehicle, Auda Capital Fund VII (ACAP VII), according to a source familiar with the matter. 

ACAP VII held a final close on $375 million, the firm announced on Tuesday, above its $350 million target, according to a statement from the firm from earlier this week.

About 60 percent of the fund will be allocated towards primaries and approximately 10 percent towards co-investments. 

In addition, ACAP VII is separated into two regional vehicles, ACAP VII-US and ACAP VII-Europe, which will respectively seek to make a blend of primary and secondary fund investments with a focus on small and mid-cap funds across the US and Europe, said the person familiar with the matter. 

ACAP VII-US and ACAP VII-Europe will be diversified across a number of industries, both funds have already made investments. As of 30 June, ACAP VII-US has made 18 investments and ACAP VII-EU has made 11 investments, said the person.