Portfolio Advisors raises $1.18bn

The US private markets specialist has closed its oversubscribed global private equity fund-of-funds.

Portfolio Advisors (PA) has held a final close on its oversubscribed ninth global private equity fund-of-funds, Portfolio Advisors Private Equity Fund IX at $1.18 billion, exceeding its target of $900 million.

Fund IX allows limited partners to invest across three primary (buyout, venture capital and special situations) and three opportunistic (secondaries, co-investments and mezzanine) sectors, as well as a model portfolio reflecting PA’s recommendations based on current market conditions.

Fund IX’s predecessor Portfolio Advisors Private Equity Fund VIII raised $1.22 billion in April 2016.