Strategic Partners Closes Secondaries Fund At $4.4B

Oct 6 2014 | 9:04am ET

Blackstone's dedicated secondary platform, Strategic Partners Fund Solutions, has closed its sixth secondaries fund with a hard cap of $4.4 billion.

Strategic Partners Fund VI began investing in April 2014 and is focused on acquiring portfolios of high-quality private equity interests and co-investments.

Strategic Partners sourced commitments from almost 300 investors, including public, corporate and foreign pension funds, financial institutions, sovereign wealth funds, endowments, foundations and family offices. High-net-worth individuals also participated via private banking vehicles. Strategic Partners’ investor base is composed of limited partners in the U.S., Canada, Europe, the Middle East, Asia-Pacific and South America.

Said Stephen Can, co-head of Strategic Partners, in a statement: “We could not be more pleased with the reception we received from investors globally in raising SP VI. We are grateful for the support that our limited partners have shown us, which has allowed us to conclude fundraising substantially ahead of schedule and focus on investing SP VI. We look forward to leveraging our expertise in the secondary space and to building on our track record as the ‘secondary buyer of choice’, by transacting on a fair, timely and confidential basis.”

Strategic Partners Fund Solutions, a secondary platform comprised of 33 investment professionals, has raised over $16 billion dedicated to private equity and real estate fund investing since its founding in 2000.

The private funds team at Davis Polk & Wardwell advised on the closing.

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