FEG Private Investors Raises $194.5M For Third Private Capital Fund of Funds

Mar 3 2017 | 10:51pm ET

An affiliate of Fund Evaluation Group has raised $194.5 million in capital commitments for its third private capital fund of funds vehicle, beating its $175 million target. 

The affiliate, named FEG Private Investors LLC, held the final close for the fund in late February. A wide range of limited partners, including foundations, endowments, pension plans, religious institutions, educational institutions, and other investors, the company said in a statement, supported the new fund, which has the flexibility to invest in private equity, private debt, and private real assets strategies.

The new launch represents FEG Private Investors’ third private capital fund of funds. The first closed in 2012 with $122.3 million, and the second in 2015 with $227.3 million. All funds exceeded their target amount and FEG Private Funds now have a total committed capital of approximately $550 million.

“Since we launched our first fund in 2012, we continue to see more investors who want to outsource the illiquid component of their investment portfolio,” said FEG Managing Principal, Gary Price. “Private capital funds typically have either high minimum investments, short fundraising cycles, or limited, if any, capacity to accept new investors.” 

FEG has more than 29 years’ experience delivering investment advice and solutions to institutions. It is affiliated with $58 billion manager Fund Evaluation Group, which was founded in 1988 and provides investment consulting, OCIO, portfolio management and other investment advisory services to institutions and RIAs.

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