Fundraising

Capital Dynamics launches fourth secondaries fund

The mid-market secondaries investor aims to raise a $350m fund with a $500m hard-cap by early 2015.

By
Brian Cantwell
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Global fund of funds Capital Dynamics has launched its fourth global secondaries fund with a $350 million target and a hard-cap of $500 million, Secondaries Investor has learned.

Capital Dynamics declined to comment.

The firm’s Secondaries Fund III closed above its $250 million target on $276.6 million in 2010 according to PEI Research & Analytics. LPs in Fund III include the Greater Manchester Pension Fund, the University of Arizona and Swiss pension fund PAT BVG, according to PEI data.

Fund IV is expected to hold a first close by the end of the month on up to 40 percent of the fund’s target, largely comprised of re-ups, according to a source familiar with the fundraise. It is also expected to add new LPs in the US and Japan.

Headquartered in Switzerland, Capital Dynamics has 10 international offices including London, New York and Hong Kong.