Fund was oversubscribed and received USD $786 million in capital commitments
Capital Dynamics, an independent global private asset management firm, today announced the final close of Capital Dynamics Global Secondaries V (“GSEC V” or “the Fund”) with approximately USD $786 million in commitments. Advised by a multinational team across North America, Europe and Asia, GSEC V invests in a diversified portfolio of global secondary interests in mid-market private equity funds. The Fund exceeded its initial target size of USD $700 million and significantly surpassed the size of its predecessor secondaries fund, which closed in July 2016.
GSEC V continues Capital Dynamics’ secondary investment strategy focused on smaller off-market opportunities sourced on a global basis across a wide range of transaction types, including LP interests, fund recapitalizations and structured portfolio solutions. The Fund set an all-time Capital Dynamics fundraising record, receiving commitments from institutional clients and private wealth platforms across the United States, Middle East, Europe and Asia, and demonstrates the platform’s network of close partnerships and track record of value creation.
“The secondaries space is going through a renaissance with the level of creativity and variety of transaction types available in the market today,” said Joseph Marks, Head of Secondaries at Capital Dynamics. “Since the start of the COVID-19 pandemic, we have experienced heightened deal flow from high-quality sponsors seeking LP liquidity or fund restructuring options to weather the volatile macroeconomic environment. With support from our firm’s dedicated primaries investment team, we have maintained strong relationships with more than 350 private equity general partners, which continue to provide ample deal flow opportunities.”
Read more/Source: PRNewswire
