Portfolio Advisors raises $1.18bn

The Connecticut-based fund of funds manager held a final close of its ninth private equity fund.

Portfolio Advisors closed its ninth private equity fund, Portfolio Advisors Private Equity Fund IX, on September 30th at $1.18 billion. The fund surpasses its target of $900 million but falls just shy of matching the $1.22 billion generated by its predecessor vehicle, Portfolio Advisors Private Equity Fund VIII.

Launched in 2016, the fund of funds looks to invest in multiple regions across the globe including North America, Eastern and Western Europe, Asia, Latin America and the Middle East/Africa.