Committed Advisors closes fourth fund on €1.6bn

Committed Advisors has held the final close on its latest secondaries fund, around 18 months after launching.

The Paris-headquartered secondaries firm raised €1.6 billion for Committed Advisors Secondary Fund IV, beating its €1.25 billion target, according to a statement.

The firm is among a group of mid-sized secondaries buyers that focus on lower-mid-market and mid-market secondaries deals, both for LP sales and GP-led deals like fund restructurings.

Formed by Daniel Benin and Barthélémy de Beaupuy in 2010, Committed Advisors has already committed about 20 percent of the fund across 10 deals, Benin told sister publication Buyouts. The firm increased its LP base to 120 investors from 70, with new investors from North America, Europe and Asia.

Last year, Committed Advisors led a deal to move speciality finance assets from Milestone’s third and fourth funds into a continuation vehicle. The deal allowed Milestone to shift its future focus to speciality finance investments, Buyouts reported.

Along with Benin and de Beaupuy, Committed Advisors is led by partners PJ Stock in New York and Guillaume Valdant in Paris. The firm has 21 employees, with 16 investment professionals.

The firm has consistently raised funds every few years. It closed its debut on €257 million in 2011, raised €500 million for Fund II in 2014 and just over €1 billion for Fund III in 2017.

The mid-market deal sector is less competitive than the larger side of the market, where billions of dollars have been raised for deals.

The lower to mid-market, by contrast, is targeted by only a handful of secondaries firms such as Committed Advisors, as well as Kline Hill Partners, Willowridge Partners and several others.