Fund of funds firm Mantra expects to close its latest secondaries fund in the next four weeks after 10 months of fundraising.
The firm, which has offices in Paris, New York and Luxembourg, expects its Mantra Secondary Opportunities fund (MSO) to hit its €75 million hard-cap after initially reaching a €50 million target in April this year.
“We anticipate the fund will be oversubscribed,” said Fabrice Moyne, partner at Mantra in Paris. In terms of investments from the fund, the firm has already closed three deals and will probably close a fourth early next week, he said. Investment strategy for the fund will be spread geographically including emerging markets in Asia and Latin America, as well as in North America, Europe and the Middle East, Moyne said.
Formed in 2007, Mantra focuses on niche and listed private equity strategies, including LP stakes in the secondary market in sectors including oil and gas, mining, litigation funding, intellectual property and agribusiness, according to the firm’s website.