Portfolio Advisors is targeting $900 million for its latest private equity fund of funds, the same amount as its previous fund, and has held a second interim close on the vehicle, PEI's sister publication Secondaries Investor has learned.
The Darien, Connecticut-based firm launched Portfolio Advisors Private Equity Fund IX (PAPEF IX) in January, according to a US Securities and Exchange Commission filing.
PAPEF IX held its second interim close on $290.5 million, according to a 23 August SEC filing. The fund has received commitments from five investors and Crown Rock Partners is listed as helping to raise the vehicle.
It is understood the fund will follow its predecessor’s multi-sector strategy where investors can select among primary funds, secondaries and co-investments within the platform.
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