Strategic Partners Fund Solutions Closes Sixth Fund at $4.4 Billion
NY, NY October 3, 2014. Strategic Partners Fund Solutions (“Strategic Partners”), Blackstone’s (NYSE:BX) dedicated secondary and fund solutions platform, today announced the final closing on its hard cap of $4.4 billion for Strategic Partners Fund VI, L.P. (“SP VI”), its sixth secondary fund. SP VI began investing in April 2014 and is focused on generating attractive, risk-adjusted returns by 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.
Commenting on the closing, Stephen Can, Co-Head of Strategic Partners, said: “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.”
Verdun Perry, Co-Head of Strategic Partners, said: “Strategic Partners is thrilled with the significant investor demand for our sixth secondary fund. We are excited to welcome both new and existing limited partners from around the globe, who have chosen to partner with Strategic Partners to capitalize on the growing opportunity in the secondary market.”
Strategic Partners was advised and supported in the raising of SP VI by the private funds team at Davis Polk & Wardwell LLP.
About Strategic Partners
Strategic Partners Fund Solutions is a leading secondary and fund solutions platform. Strategic Partners is comprised of 33 investment professionals and has raised over $16 billion dedicated to private equity and real estate fund investing since its founding in 2000. Focusing on opportunities in funds globally, Strategic Partners is recognized as an innovative and market-leading private equity and real estate investor, with broad transaction capabilities that reinforce its already established reputation as a nimble and responsive investor. Strategic Partners has executed over 800 transactions that represent interests in over 1,800 unique underlying funds managed by over 700 different financial sponsors.
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