Commonfund Capital has closed its third private equity fund at $236.6 million. The fund’s limited partners include pensions, foundations, endowments, insurance companies, family offices and sophisticated clients of registered investment advisors and consultants. Commonfund Capital invests in mostly small to mid-sized companies.
Wilton, CT, September 15, 2021 – Commonfund Capital today announced the closing of its third global private equity fund, Commonfund Capital Global Private Equity Partners III, L.P., at $236.6 million, above its prior global fund that closed at $228.8 million. The fund had strong participation from existing limited partners as well as a number of new investors; limited partners included pensions, foundations, endowments, insurance companies, family offices and sophisticated clients of registered investment advisors and consultants.
Commonfund Capital has been investing in private equity since 1988 and specializes in smaller and medium sized funds and managers that are sector and geographic specialists, many of which are capacity constrained and difficult for investors to access .
According to London-based Managing Director Miriam Schmitter, head of Commonfund Capital’s private equity investments outside the U.S., “This partnership is designed to serve as a complete global private equity investment program that enables investors to commit to a single partnership and access private equity opportunities in the U.S., Europe and other developed markets and in select emerging markets. The partnership is intended for investors looking for a complete, alpha-focused private equity solution backing highly sought after and niche managers.”
The fund intends to have a concentrated number of managers in each geography that demonstrate the ability to identify compelling investment opportunities, partner with successful portfolio company management teams and add value through strategic, financial, and operating expertise specific to their sector of specialization (such as healthcare, information technology, specialty manufacturing and business services). Schmitter also commented, “In addition to select primary manager commitments, for return purposes as well as for J-curve mitigation, the fund will have exposures to secondaries and select co-investments.” And she added, “We are very appreciative of the continued support from existing investors and we welcome new investors in our third global fund.”
Since Commonfund Capital’s inception in 1988, it has managed close to $19 billion in cumulative commitments from investors, approximately $9 billion of which is within the buyouts and growth equity stages of private equity through its global funds, geographic-specific funds, and separate accounts. The remaining commitments consist of venture capital ($6 billion), real assets and environmental sustainability ($3.3 billion) and multi-assets ($0.7 billion).
About Commonfund Capital
Commonfund Capital, Inc. (“Commonfund Capital”) is a global private capital solutions provider. Commonfund Capital invests with value-creating partners into primarily small- and mid-sized companies. Since Commonfund Capital’s founding in 1988, its mission has remained the same: to provide quality investment solutions in private equity, venture capital and real assets and sustainability. Through commingled investment partnerships and customized separate accounts, Commonfund Capital offers investors intentionally designed private capital portfolios constructed with primary investments, secondaries and co-investments and builds investment programs by partnering with underlying managers that it believes are among the world’s leading private capital firms.