"Investing in secondaries offers our experienced investors, such as high-net-worth individuals and entrepreneurs with a long-term focus, further diversification in their private equity portfolio," said Wendy Winkelhuijzen, Member of the Management Board.
HarbourVest's FTSE 250-listed trust, which has a 29% allocation to secondaries, first announced plans in April to narrow its persistent discount to NAV.
Managed by Fundcraft France and initially distributed exclusively by Rhétorès Finance, the vehicle will combine primary and secondary investments, with monthly subscriptions and quarterly redemptions.
We dive into EPME, outlining the investment strategy, capital flow policy, and other details of the Partners Group-managed vehicle.
The fund has already secured a $125 million anchor commitment from Beedie Capital following its acquisition of a 50% stake in Vistara.
The vehicle will invest at least 85% of its capital in a Partners Group ELTIF, which focuses on private equity direct and secondary investments.
Partners Group's decision to impose a 5% redemption cap on its $9 billion private equity SICAV has erased more than 16% of the firm's market value in a single day.
In its latest move, the activist investor has swayed the Schroder UK Mid Cap Fund's Board to conduct a tender offer for up to 100% of the listed trust's ordinary shares.
At least 80% of net proceeds from the transaction will be directed toward a share buyback program aimed at generating liquidity and NAV accretion.
The Dutch investment manager is expanding into GP stakes investing while also developing a dedicated open-ended strategy for managing secondary investments.
