Capital Dynamics holds final close on Fund IV

The $564m vehicle, the largest of its kind for the firm, will focus on smaller portfolios and complex deals.

Capital Dynamics has held the final close on its latest dedicated secondaries fund above target after more than two years of fundraising.

The fund of funds manager firm raised $564 million for Capital Dynamics Global Secondaries IV, exceeding its $350 million target, according to a statement. The fund launched in March 2014 and is the largest of its kind for the manager.

“We are very pleased with the level of interest received from a highly diverse investor base throughout the world, demonstrating the increasing demand for opportunities in the smaller end of the global secondaries market – a relatively underserved area which requires the same level of sophistication, complex skillset and global scale characteristic of larger transactions,” Joseph Marks, the firm’s global head of secondaries, said.

Global Secondaries IV received commitments from 70 investors comprising pension plans, insurance companies, endowments, sovereign plans and family offices based in Europe, the US, Asia and the Middle East.

The fund, which held its second close on about $377 million in April, will focus on off-market deals, particularly smaller portfolios and fund recapitalisations.

Capital Dynamics, which is based in Zug, Switzerland, had over $25 billion in assets under management and advisement as of 31 December.