Private Advisors raises $275m

The alternative investment firm closes fifth secondaries-focused fund.

Private Advisors Secondary Fund V has held a final close at its $275 million hard-cap, exceeding its initial target of $200 million. The oversubscribed vehicle primarily pursues small market transactions of less than $25 million, including single funds and structured solutions.

Capital committed to the fund came from new and existing investors, such as New York Life Insurance Company.