Committed Advisors approaches Fund IV target

The secondaries firm is targeting €1.25bn for its fourth flagship fund.

Committed Advisors is weeks away from hitting the target on its latest flagship fund, Secondaries Investor has learned.

The Paris-headquartered secondaries firm has raised €1.2 billion for Committed Advisors Secondary Fund IV and will hit its €1.25 billion target in March, according to a source with knowledge of the fundraise. The firm will push beyond the target toward its hard-cap, Secondaries Investor understands.

A filing with the Securities and Exchange Commission dated 10 March noted that CASF IV had raised the equivalent of $1.2 billion, based on the exchange rate on the date of each sale. New York-based INTE Securities and UBS Securities, and Frankfurt-headquartered UBS Europe are listed as placement agents.

The date of first sale is listed as May 2019.

Secondaries Investor reported in February last year that Committed Advisors was preparing to return to market. Predecessor Fund III raised €1.03 billion, against a target of €750 million, by final close in 2017, according to Secondaries Investor data. Investors include Finnish Local Government Pensions Institution (KEVA) and Wildermuth Endowment Fund.

Committed Advisors acquires small- and mid-market assets in North America, Europe and emerging markets, with an investment range of between €2 million to €100 million, according to its website. It predominately targets buyout and growth assets and can buy distressed, turnaround and venture capital assets.

In July 2018 it partnered with Intermediate Capital Group on a process that partially freed the captive private equity arm of Japanese conglomerate Orix Corporation, Secondaries Investor reported.

Committed Advisors declined to comment.