Commonfund Launches $50M FoF

Firm: Commonfund

Fund: Commonfund Capital Partners V LP

Target: $50 million

Placement Agent: Commonfund Securities Inc.

The asset manager Commonfund has returned to the market to raise a small fund of funds, according to a regulatory filing.

The Wilton, Conn., firm—which manages investments for 1,500 clients, including nonprofit educational endowments, foundations and philanthropic organizations, pension plans and other investors—said Commonfund Capital Partners V LP is planned as a $50 million private equity fund, but it was unclear what strategy the fund might pursue.

Commonfund, which has $26 billion under management, including $11.7 billion in alternative assets, has raised more than 40 fund of funds vehicles since 1988. It most typically names its funds according to the strategies they pursue, whether private equity, venture capital, international, natural resources, mezzanine finance and the like, according to the Thomson One database managed by Buyouts publisher Thomson Reuters.

Indeed, Commonfund disclosed earlier this year that it is now raising Commonfund Capital Private Equity Partners VIII, which aims to raise $600 million, according to a filing reported by Buyouts in February.

Founded in July 1971 as the Common Fund for Nonprofit Organizations, the firm adopted the Commonfund trade name in 1998. A spokesman for Commonfund did not respond by deadline to a request for comment.

Commonfund Securities Inc., the firm’s broker-dealer arm, was identified in the filing as the placement agent for the new fund.