PICTET Alternative Advisors (PAA), the alternative investment specialist of the Pictet Group, announced July 9 the final close at US$1.16 billion of Monte Rosa V, the fifth fund in a series of diversified, multi-manager private equity funds.
Monte Rosa V will invest mostly in North American and European buyout funds and to a lesser extent in other geographies (e.g. China, Australia and emerging markets) and other strategies (venture capital, growth and turnaround). Around 20% of the fund will be deployed in co-investments and secondary transactions. At the time of closing, the programme was 50% committed.
The fundraising saw substantial interest both from prior investors in the Monte Rosa funds as well as from a new and geographically diversified set of clients.
Maurizio Arrigo, head of private equity at PAA, says that the capital raise represents an important achievement that positions Pictet as a leader in the global private equity sector, capable of attracting both high net worth individuals (HNWI) and traditional institutional investors.
“As this fund is 1.5 times bigger than its predecessor which we closed in 2017, this successful fundraising reinforces the important role private equity plays in investors’ strategic asset allocation,” Arrigo adds.
Pictet utilizes a consistent portfolio construction approach across its private equity funds, irrespective of total capital raised, and has nurtured longstanding and close relationships with a limited number of private equity firms where access to investment funds can otherwise be restricted.