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Portfolio Advisors promotes secondaries staff to MD

Two investment professionals who focus on private equity and real estate, respectively, have been promoted.

Portfolio Advisors has promoted two investment professionals who focus on secondaries across private equity and real estate.

Patrick Gerbracht
Patrick Gerbracht

The Connecticut-headquartered firm promoted Patrick Gerbracht to managing director, according to a statement. Gerbracht joined the firm in 2010 from Pomona Capital and was a vice-president focusing on private equity.

Jeffrey Cho was also promoted to managing director. Cho joined the firm in 2012 and is a senior member of the private real estate investment research and due diligence team whose focus includes secondaries acquisitions.

This month Portfolio Advisors held a $201 million first close on its latest real estate fund of funds, Portfolio Advisors Real Estate Fund VII, according to a filing with the Securities and Exchange Commission. The fund, which launched at the start of last year, invests in primaries, secondaries and co-investments, the size of each component depending on investor demand.

Jeffrey Cho
Jeffrey Cho

It is understood the fund will aim to raise a little more than its predecessor, Secondaries Investor reported in June.

Portfolio Advisors’ third private equity fund was the third-largest secondaries vehicle to hold its final close last year, collecting $1.5 billion, according to Secondaries Investor data. Landmark Partners’ 16th private equity fund was the largest with $7 billion including co-investment capital, followed by Pomona Capital’s ninth fund on $1.8 billion.