Auda Closes Secondary Fund III Above Target
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Auda Closes Secondary Fund III Above Target

auda nfAuda International has held a final close of Auda Secondary Fund III LP (ASF III) with limited partner commitments of $332 million. ASF III garnered significant interest from a range of investors and exceeded its original target of $300 million.

boles nf“We are pleased by the strong support from existing Auda investors, who represented over 60% of capital committed to ASF III,” said Ernest Boles, Auda’s Chief Executive Officer. “We are also pleased to have attracted 12 new institutional investors, from both Europe and the United States, totaling over 30% of ASF III’s committed capital. With nearly 25 years of experience in the private equity markets, Auda’s track record of balancing risk and return clearly resonates with a variety of global investors.”

A majority of the capital committed to ASF III came from institutional investors, including public and private pension funds, insurance companies, endowments, foundations and financial institutions, as well as from family offices and high net worth individuals.

Following in the steps of earlier funds, ASF III will focus on less competitive niches in the global secondary market, especially smaller and more complex transactions.

wesson nf3“The private equity secondary market has grown significantly in recent years. We believe Auda’s global, integrated platform, which combines primary fund investing, co-investing and secondaries, is a key driver of success in the current environment,” said Stephen Wesson, Auda’s head of global private equity. “Our focus on small to mid-size transactions and our ability to engineer creative liquidity solutions for both limited partners and general partners are also critical elements in our strategy.”

Auda International is an investment manager and advisor focused exclusively on private equity. The firm’s private equity investment vehicles include funds-of-funds, secondary funds-of-funds, direct co-investment funds, and separately managed accounts. Auda has investment teams in the United States, Europe and Asia and manages capital commitments of $5.3 billion. The firm was founded in 1989 and has offices in New York, London, Hong Kong, and Bad Homburg (Germany) (www.auda.com).

© 2014 PEPD • Private Equity’s Leading News Magazine • 1-31-14

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