Montauk TriGuard holds final close on Fund VII – updated

The niche secondaries firm raised over $660m for its latest fund that will focus on liquidity, carve-outs and strips, clean-ups and opportunistic strategies.

Montauk TriGuard has held the final close on its seventh fund, which focuses on niche secondaries strategies.

The Irvine, California-based firm amassed over $660 million for Montauk TriGuard Fund VII, according to a statement from the firm. There were commitments from over 181 investors.

The fund’s target was $600 million and it was not clear if there was a hard-cap.

Fund VII received strong backing from a diversified group of investors, including public and corporate pension plans, insurance companies, endowments, foundations, family offices and high net worth individuals.

“We want to thank our existing consultants and investors for their strong support over many years, and we want to welcome a new group of high quality consultants and investors to Fund VII,” Samuel Tang, co-managing partner, said in the statement.

Fund VII will acquire stakes in secondaries funds, making value-added carve-out deals and closing out past-term secondaries funds, according to the statement.

The minimum investment from limited partners was $100,000, according to the filing.

The fund’s predecessor, Montauk TriGuard Fund VI, took four months to raise $505 million, beating its $400 million target in May 2014, according to PEI Research & Analytics.

Montauk TriGuard, formerly Montauk Partners, has was founded in 1998 as an advisory firm and  manages seven funds and has raised over $2.2 billion.

– This story was updated with details of the fund’s size, strategy and a statement from the firm.