Anglo-French secondary investor
A significant number of new investors participated alongside existing investors in the European fund. Limited partners include, pension funds, family offices, insurance companies, endowments and foundations, and sovereign funds. Investors were equally weighted between US investors and non-US investors, from Europe, Asia and the Middle East.
ESD Fund IV has already invested approximately 20% of its capital, having completed several secondary acquisitions principally invested in the UK, France, Germany and Benelux.
The fund’s strategy is to provide liquidity to investors in European private equity funds and in portfolios of European private equity backed companies, in secondary transactions up to €200m in size.
Managing partner of ARCIS Arnaud Isnard said: “The need for liquidity in private equity should continue growing significantly as in difficult market conditions more investors face the need to realise or restructure their investments.”
ARCIS’ previous fund ESD Fund III reached a final close at €175m. ESD Fund III also focused exclusively on the European market. ARCIS operates through a sixteen strong team with ten investment professionals.
The secondaries space is one niche of the investment community which is expected to prosper whilst other areas flounder. According to Private Equity Intelligence, there are 21 secondaries funds in the market, looking for a combined £15.1bn, including
Secondary sales are often unpublicized, but there have been a few this year that have reached the public gaze.
In July Norwegian-based oil and gas specialist
In June, UK secondaries giant
Sticking with venture, UK venture secondaries firm