Commonfund eyes $75m for debut secondaries fund

Managing director Cari Lodge joined Commonfund in January to oversee its secondaries investments.

Fund of funds manager Commonfund Capital has launched its debut secondaries fund with a target of $75 million, according to documents filed with the US Securities and Exchange Commission last Thursday.

Cari Lodge
Cari Lodge

Last month, Secondaries Investor reported the firm was gearing up to launch the fund, which would be led by managing director Cari Lodge. Commonfund hired Lodge last year from Tulane University’s investment management office to oversee its secondaries investments.

The firm did not return a request for comment by press time.

Commonfund Capital Secondary Partners 2015 will invest in global secondaries opportunities, according to PEI’s Research and Analytics division.

The firm has historically invested in secondaries through its private equity, venture capital and natural resources fund of funds programmes.

The firm is in market with its Commonfund Capital Venture Partners XI, which is targeting $500 million, and Commonfund Capital Natural Resources Partners X, which has a $300 million target, PEI data revealed.

Commonfund Capital is a division of Commonfund, the Wilton, Connecticut-based investment manager. The firm has appointed a new chief executive officer to take over in February. Former JPMorgan executive Catherine Keating will replace Verne Sedlacek after ten years.