Origami presses forward with Opportunities Fund III

Firm: Origami Capital Partners

Fund: Origami Opportunities Fund III LP

Target: $450 mln

Amount raised: At least $47 mln

Placement Agent: Sixpoint Partners 

Origami invests in illiquid residential interests in hedge funds, real estate and private equity fund interests and restructurings, hard-to-sell assets owned by funds, non-performing loans and other investments with no easy exit strategy, according to the firm’s website.

Origami last year teamed up with HarbourVest Partners on HarbourVest Origami Structured Solutions LP, which purchased some illiquid positions in Endowment Fund. A consortium of investors, including HarbourVest and Origami, made a $650 million indirect purchase of a portfolio of private equity and hedge fund interests. The transaction involved a a complex acquisition of 40 percent of the outstanding limited partnership interests in The Endowment PMF Master Fund, according to a statement from Debevoise & Plimpton.

The Origami Opportunities Fund III SEC filing shows a date of first sale of March 16 and lists a minimum investment of $10 million and participation from 14 investors.

Executives named in the Fund III filing include Darren O’BrienThomas Elden, Joelle KellamJulie Klaff, Richard Olson and Jeffrey Young.

Elden is listed as founder and managing partner of Origami. He helped found Lakeview Capital Management in 1999 and was a founding member of Lakeview Opportunity Fund, a fund of activist funds, according to the firm’s website.

Eden did not respond to an email from Buyouts. 

Origami also filed Form Ds for two parallel vehicles, including Origami Opportunities Fund III Offshore LP, which raised $102 million, and Origami Opportunities Fund III Offshore Master LP, which drew in $106 million.

In early 2013, Origami disclosed $27.4 million in commitments and a target of $1 billion for Origami Secondary Fund II LP, with a date of first sale of Dec. 15, 2011, and a minimum investment of $10 million. Ounavarra Capital LLC was listed as a placement agent.