Commonfund adds $100 mln in feeder to recently closed fund

  • Assets under management: $14.9 bln in discretionary assets
  • Why this is important: Funds of funds are raising strategy-specific funds

Commonfund Capital raised additional capital for a feeder to its recently closed fund and sophomore secondary and co-investment funds, according to SEC Form D filings.

Commonfund’s Capital Venture Partners XII feeder fund raised $100 million from one investor, the filing said.

Its 12th venture capital fund closed at $432 million in October, Buyouts reported.

Commonfund is a fund of funds and invests with managers targeting small and midsized companies in growth markets and industries with a focus on technology and industries in transition.

Its investors include endowments, foundations and other institutions.

The Wilton, Connecticut, asset manager added several investment vehicles to its portfolio in the past few years, including secondary, co-investment and private-credit funds.

Commonfund raised $243.65 million for its second secondary partners fund, targeting $350 million from 46 investors, according to the SEC filing.

Commonfund’s secondary strategy invests in secondary-market transactions in leveraged buyout, growth equity, distressed securities, mezzanine financing, natural-resources and venture capital funds.

Its debut secondary partners fund was valued at $213.03 million and had 63 beneficial owners, according to its Form ADV.

In addition, Commonfund’s second co-investment opportunities fund, targeting $100 million, raised $71.2 million from 15 investors, the Form D said.

Commonfund’s co-investment strategy focuses on PE investments and opportunistic venture and natural-resources investments. Co-investments are primarily for developed economies including North America and Europe.

Its debut co-investment fund, raised in 2015, was valued at $76.4 million, its ADV said.

All the above funds had a $1 million minimum investment requirement.

The asset manager also launched Commonfund Real Estate Opportunity Fund 2018, which raised $53 million and had 11 beneficial owners, its ADV said.

In addition, Commonfund Private Credit Fund 2018 raised $25 million and had one beneficial owner, the ADV said.

The real estate and private-credit vehicles had a minimum investment requirement of $500,000.

Commonfund Capital managed $14.9 billion of capital on a discretionary basis as of June 30, 2018, the ADV filing said.

Action Item: Read Commonfund’s Form ADV here