Private Advisors Closes 5th Secondary Fund at Hard Cap
RICHMOND, VA - March 14, 2018 – Private Advisors, LLC, a leading alternative investment firm, held a final close for Private Advisors Secondary Fund V, LP (“Fund V”), reaching its hard cap of $275 million. The Fund was oversubscribed and marks the 4th private equity fund closed by Private Advisors in the last 12 months, representing approximately $1 billion in aggregate new commitments for the firm.
Private Advisors would like to thank both new and longstanding investors for the strong support received. In addition to employees and New York Life, investors included pension plans, endowments, foundations, family offices and private banks.
Fund V invests in small market transactions generally defined as less than $25 million, focusing on single fund interests and structured solutions.
Chris Stringer, President of Private Advisors commented on the market environment: “There have been significant inflows to mega secondary funds, while small market flows have remained relatively consistent. This Fund is focused on small transactions and, more specifically, on opportunities where our broad platform and collective experience in the small company market can provide a sourcing or information edge that can potentially lead to favorable transaction dynamics for our LPs in an otherwise competitive environment.”
About Private Advisors
Private Advisors, LLC is a leading alternative investment firm managing over $4.6 billion in assets as of January 31, 2018. Private Advisors sources, underwrites, structures, and manages investments in small to mid-sized managers and direct transactions across the liquidity spectrum. Private Advisors’ integrated platform has expertise in Small Company Private Equity, Real Assets, Credit, and Long/Short Equity. The long-term nature of the firm’s capital and range of expertise provides origination and diligence advantages that benefit its investors. Private Advisors builds commingled and customized portfolios on behalf of investors that seek to preserve and grow capital. Private Advisors is an affiliate of New York Life Investment Management Holdings LLC, a subsidiary of New York Life Insurance Company. www.privateadvisors.com
For additional information, please contact:
New York Life Insurance Company