Portfolio Advisors collects $200m for FoF

The fundraise for Fund VII comes less than one month after the firm closed it’s sixth fund on $1.1bn.

Portfolio Advisors has raised $200 million for its seventh private equity fund of funds, according to documents filed with the Securities and Exchange Commission. The fundraise comes less than one month after the firm closed it’s sixth fund on $1.1 billion.

The target for Portfolio Advisors’ Private Equity Fund VII could not be determined at press time.

More than 80 percent of limited partners in PAPEF VI – which include public and private pensions, university endowments, foundations, insurance companies, family offices and high net worth individuals – had previously invested in one or more Portfolio Advisors-sponsored funds.

LPs in PAPEF VI were able to choose desired sector allocations and exposure levels from three principal strategy choices: diversified buyout, diversified venture capital and diversified special situations. Sub-sector preferences included US mid-market, Europe and “Rest-of-World” mid-market and distressed.

PAPEV VI has been making primary and secondary investments since an initial closing in 2008, Portfolio Advisors said in a statement.

In late 2009, the firm raised its debut dedicated secondaries fund, collecting $1.1 billion to bolster its already robust secondaries practice. Fundraising took about 18 months, managing director Paul Crotty told PEI at the time.