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Hollyport deploys 35% of Fund IV

The London-based firm closed its fourth secondaries fund on its £75m hard-cap last year.

Hollyport Capital has deployed move than 35 percent of its Hollyport Secondary Opportunities IV, according to chief executive officer John Carter.

John Carter
John Carter

Fund IV closed on £75 million in December 2013, above its £50 million target. Limited partners in the fund include Graphite Capital, according to PEI’s Research and Analytics division. The fund has invested in 10 acquisitions, including single stakes and portfolios of tail-end stakes in buyout, venture, mezzanine and growth funds mostly in Europe and the US. “The fund is now well ahead of its original three-year investment period,” Carter said. London-based Hollyport was formed in 2006 by Carter and chairman John Beatty, who previously worked together at 3i, according to the firm’s website. Earlier this year Hollyport sold its minority position in Sauflon Pharmaceuticals to contact lens manufacturer CooperVision for roughly $1.2 billion. Hollyport acquired the position from the Quester funds in 2007 as part of a restructuring process to Quester. The sale generated a 60x return multiple and an internal rate of return in excess of 80 percent, according to a statement.