Pictet Alternative Advisors (PAA), the alternative investment specialist of the Pictet Group, has held the final close of its debut thematic private equity fund focused on technology at its hard cap of $350 million.
The Pictet Thematic Private Equity – Technology is a fund of funds exclusively dedicated to technology investments and innovation. PAA’s expertise in building diversified portfolios, that include investments in tech companies of different maturity stages (from venture capital, growth, and buyout) has allowed investors to gain exposure to several layers of the technology investment landscape with a mitigated risk approach.
The Pictet Thematic Private Equity – Technology fund was launched in October 2020, with a target fund size of USD300 million, and reached its hard cap at USD350 million, underlining the strong appetite for this type of strategy. The fund is managed by the Thematic team under Pierre Stadler, Head of Thematic Private Equity at PAA who brings 15 years’ experience in Private Equity investing.
Stadler says: “Reaching the hard cap with this new initiative represents a strong achievement. It is not only a testimony of the continued trust of our investors, but it also demonstrates they are eager to participate in more niche and specialized products. We are proud to rely on a well-diversified investor base which includes pension funds, financial institutions, foundations, family offices and high net worth individuals (HNWIs)”.
