Permal Capital Management Raises $465M For Fifth Secondaries Fund

Nov 14 2016 | 11:32pm ET

Permal Capital Management has raised $465 million in capital commitments for its fifth dedicated secondaries fund, coming in comfortably ahead of its $450 million target. 

The new fund, Permal Private Equity Opportunities V, will concentrate on single interests and smaller portfolios sourced through a global network of relationships. In addition to partnership interests, the fund may also participate in non-traditional secondary transactions such as secondary directs and structured transactions, Permal said. 

Investors included public and private pension plans, healthcare institutions, Taft-Hartley plans, foundations, endowments, family offices and high net worth individuals, the company said in a statement. Permal raised $403 million for its fourth secondaries fund in 2012. 

Permal Capital Management is a secondary market investor and private equity fund-of-funds manager based in Boston. Founded in 1990, the company has raised $2.4 billion across 18 multi-manager investment vehicles, as well as other investment structures, with the aggregate amount of secondary capital accounting for $1.7 billion

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