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Altamar reaches a €500M hard cap in its Altamar Global Private Equity Program VIII

6 June, 2017

Altamar reaches €500m hard cap in its eight fund of funds and launches a new secondaries fund

 

The firm has announced that it has closed its fund Altamar Global Private Equity Program VIII following once its hard cap has been reached

It has also launched a new investment program specialized in the secondary market and co-investments with a target size of €500M

 

ALTAMAR CAPITAL PARTNERS, the leading independent global alternative assets manager based in Spain, has announced that it has reached a €500M hard cap in its eight fund, Altamar Global Private Equity Program VIII (Altamar VIII) and has subsequently closed this fund of funds after last week’s final investor commitments.

 

Altamar VIII is under the investment period and has already made several investments in underlying funds in the primary market, mainly in the US (including special situations funds) as well as in Europe and to a lesser extent in emerging markets. Additionally, the Fund has already made deals within the secondary market and co-investments.

 

On the other hand, ALTAMAR CAPITAL PARTNERS has recently launched a new investment program specialised in the secondaries market and co-investments with a target size of €500 million.

 

ALTAMAR has been active in secondaries since its inception in 2004, initially with capital allocated from primary funds and subsequently adding additional investment capacity from two dedicated secondaries funds: Altamar Secondary Opportunities IV FCR (2009), that at present has a 1.9X multiple on invested capital and 140% distributed to LPs; Altamar Secondary Opportunities VII FCR (2013) that has already made its first distribution to LPs; and, now its new Secudaries Progam.

 

The new program will invest in secondaries globally, with a focus in buyouts but with the possibility of investing in other strategies within the secondaries universe, during its 3-4 years of its investment period and at a pace of € 150-175 million per year, until the completion of the target fund size.