Montana eyes final close on fourth fund – exclusive

The firm has hit its €650m target for mcp Opportunity Secondary Program IV after three months of fundraising, Secondaries Investor has learned.

Montana Capital Partners is preparing to hold the final close on its latest secondaries fund around three months after it launched the vehicle, Secondaries Investor has learned.

mcp Opportunity Secondary Program IV has hit its €650 million target and is set to raise more, according to a source with knowledge of the fund. The vehicle has been in the market since October 2017, according to PEI data.

Its hard-cap is not clear.

Swiss-headquartered Montana took 10 weeks to raise its previous fund, mcp Opportunity Secondary Program III, which beat its €300 million target to hold a first and final close on €406 million in the third quarter of 2015, as Secondaries Investor reported.

Investors in that fund include Swedish pension AP Fonden 3, which committed €25 million, the London Pensions Fund Authority and Finland’s Elo Mutual Insurance Company, according to PEI data.

Montana was founded in 2011 by two former Capital Dynamics executives, Marco Wulff and Christian Diller. The firm focuses on small and complex secondaries transactions with an emphasis on proprietary deals. It has closed 60 transactions over the past five years, according to its website.

The firm declined to comment.