RCP Advisors has held a final closing of RCP Secondary Opportunity Fund II, LP (RCP SOF II). The new fund closed with $425 million in commitments, exceeding its target of $300 million.
“Secondary funds are the focus of many investors’ attention these days. The positive market reaction to RCP Secondary Opportunity Fund II shows that our differentiated focus on the small buyout fund market resonates with investors,” said Charles Huebner, Managing Principal and Chief Investment Officer at RCP Advisors. “They see great opportunity in this market despite increased competition in secondaries overall. The strong performance to date of our earlier secondary fund as well as the unique market opportunity allowed us to retain a majority of our existing limited partners and attract a high quality roster of new investors. We are pleased with this success during the fundraising phase and look forward to a successful investment period for our new fund.”
RCP SOF II will acquire interests in established private equity funds through secondary market purchases that offer the potential for capital appreciation and investment returns and that focus on leveraged buyout transactions. Investment sizes range from $3 million to $30 million which match the natural commitment sizes commonly seen in lower middle market funds.
RCP Advisors currently manages over $3 billion in committed capital in over 150 private equity investments across the firm’s funds-of-funds as well as its secondary funds and co-investment fund. RCP Advisors is one of the largest funds-of-funds managers exclusively focused on the lower middle market buyout segment of the private equity market. The firm was founded in 2001 and is headquartered in Chicago with an additional office in Newport Beach, CA (www.rcpadvisors.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-1-13