Unigestion, the Geneva-based fund of funds, is busy raising and deploying its third secondaries fund.
Following on from its €100 million close last November, Unigestion’s Secondary Opportunity Fund III has already deployed €40 million across six deals and is on track for a second close later this summer, Secondaries Investor has learned. It is not using an external placement agent.
A source close to the firm suggested that Fund III, which began marketing in 2013, was targeting a final close of between €250 million and €400 million.
Unigestion declined to comment.
The firm closed Fund II in June 2011 on €190 million, exceeding its €150 million target. It made €3 million to €20 million investments.
Fund III has moved slightly up in investment size, focusing on transactions of between €5 million and €30 million.
Unigestion has $15 billion of assets under management, with 93 percent managed on behalf of around 250 institutional investors and 7 percent on behalf of a few high net worth families, according to information on its website.
The firm has 175 employees across offices in Geneva, Zurich, London, Paris and New York.