SL Capital Raises $428M For Third PE Secondaries Fund

Oct 27 2017 | 8:07pm ET

Aberdeen Standard Investments private markets affiliate SL Capital has reportedly raised $428 million in capital commitments for its third private equity secondaries fund, substantially exceeding its $400 million target and reflecting the rising demand for niche private equity exposure. 

The new fund, named the SL Capital Secondary Opportunities Fund III, was supported by 31 investors including public and corporate pension funds, multi-family offices and high net worth individuals, the company said in a statement. 

Like its predecessors, Fund III will focus on niche or less competitive areas of the secondary market where Aberdeen Standard Investments can leverage the expertise, insights and relationships of its existing private markets platform. The company’s raised $291 million in May 2015 for its second secondaries fund, and now manages more than $900 million in the strategy across three vehicles. 

“Our secondaries program has progressed relatively quickly from a concept developed in partnership with clients wishing to access niche areas of the private equity secondaries market,” said Patrick Knechtli, SL Capital’s head of secondaries, said in the statement. “We continue to see strong momentum in terms of deal flow, and with the new fund in place, are well positioned to address these attractive opportunities.

Founded in 1997, SL Capital Partners has raised more €10.8 billion across pooled funds, separate accounts and listed vehicles as of February 2017. The company invests across private equity, infrastructure, strategic credit and junior debt opportunities, and is an affiliate of Aberdeen Standard Investments, created earlier this year by the $4.7 billion merger of Standard Life and Aberdeen Investment Management. 


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