Committed Advisors closes fund on €500m hard-cap

Committed Advisor's sophomore secondaries fund will spend roughly two-thirds of its capital on fund stakes and the rest on direct secondaries investments.

Paris-based Committed Advisors has reached its €500 million hard-cap for its latest secondaries fund, according to a source familiar with the matter. The fund is expected to close in the next few days and is said to be oversubscribed.

Committed Advisors Secondary Fund II had a €400 million target and held a €300 million first close last December. The fund had collected €350 million by February. Nearly 100 percent of Committed Advisors’ investors re-upped in Fund II, with most investors increasing their commitments, according to the source.

About 20 percent of Fund II has already been deployed in nine transactions. Fund II will continue the same strategy as Committed Advisor’s debut secondaries fund by spending roughly two-thirds of its capital on fund stakes, with the balance reserved for direct secondaries investments.

Committed Advisors Secondary Fund I raised €257 million in 2010. It attracted commitments from a range of family offices, institutional investors and high net worth individuals. The fund bought stakes in PAI’s €2.7 billion Europe Fund V and Bridgepoint’s €4.84 billion Europe Fund IV, according to UK regulatory notices.

Committed Advisors was set up in 2010 by former professionals from AXA Private Equity, now known as Ardian, including Daniel Benin and Barthélémy de Beaupuy. Prior to founding Committed Advisors, Benin spent nine years as a managing director at AXA and co-head of the New York office. De Beaupuy spent seven years at AXA as a managing director in the Paris office.


Chelsea Stevenson contributed to this report