Keyhaven holds first close on new secondaries fund

The London-based boutique investment manager will seek capital from investors in North America, Europe and Asia.

Keyhaven Capital has held a first close for its Keyhaven Secondaries Fund II, Secondaries Investor has learned.

The firm held a “significant first close” on Keyhaven Secondaries Fund II, which is targeting €350 million, according to a source familiar with the fundraising. A hard-cap has not been set.

Fund II will follow a similar strategy to its predecessor, Keyhaven Secondaries Fund I, which has invested in funds, portfolios of funds and direct secondaries in the European small-cap market. The firm executes most of its deals through its relationships with general partners, avoiding auction processes.

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