Swiss Re closes E409m F-o-Fs

Swiss Re Private Equity Advisers has announced a final close of €409m on Swiss Re Private Equity Partners II (SRPEP II). Limited partners in the fund are a number of well-known Swiss and international institutional investors.

The fund will invest in venture and buyout funds in the US and Western Europe and has already committed over €130m to 24 private equity funds. SRPEP II consists of four different portfolios – US venture or balanced and European venture or balanced and allows investors to freely design their own asset allocation or to commit to a diversified allocation.

Harold Weiss, head of private equity fund-of-funds at Swiss Re, said: “Despite a challenging fund raising environment, we have received strong investor interest and exceeded our target fund size of €400m.”