Astorg discloses details of continuation fund strategy

The firm's GP Equity Solutions product – co-led by Sebastiaan Van Den Berg and Michal Lange – will invest in global B2B niche leaders.

Astorg – Europe’s 14th highest ranked firm by private equity fundraising according to affiliate title Private Equity International‘s PEI 300 ranking – has provided further details of its single-asset-focused continuation fund strategy. The move comes as a number of firms look to capitalise on the growing GP-led market.

The Luxembourg-headquartered buyout firm has named the product GP Equity Solutions. It is “designed to address the significant opportunity to invest in the fast-growing single-asset continuation vehicle market”, Astorg said in a statement confirming the appointment of four executives firm-wide.

Astorg aims to build a “high-conviction portfolio of investments” across what it calls “global B2B niche leaders” in a way that is consistent with its longstanding investment strategy.

Secondaries Investor reported in July that the firm had hired Sebastiaan Van Den Berg from insurer Arch Capital Group to co-head the secondaries strategy alongside partner Michal Lange. Former StepStone vice-president Chuck Sandilya and Astorg managing director Ben Deanfield were also appointed to the team, Secondaries Investor reported.

The firm’s continuation fund strategy will invest in continuation funds of other GPs in Astorg’s area of expertise and would involve raising a dedicated fund to invest, Secondaries Investor also reported last year.

Multiple private markets firms have added secondaries as a strategy in recent years, or are seeking to bolster their existing offering. On Monday, Secondaries Investor reported that Brookfield Asset Management was considering acquiring a secondaries asset manager as part of its growth plans. Secondaries is one of four verticals it could eye for M&A purchases, according to materials from its most recent investor day presentation.

Astorg has raised $12.8 billion over the past five years, according to the latest PEI 300, placing 60th globally.