Preqin was recently told, by an associate at the firm, that at the moment ATP PEP is committing to private equity funds via the €1.5 billion ATP Private Equity Partners III. The fund started making underlying commitments in January 2008 and is now 70% invested. ATP expects to launch another fund of funds in Q2 2010 and is now in the final stages of establishing the structure of the vehicle. It is expected to follow a similar strategy as its previous funds of funds, although its size is still undecided and will be dependent on the market.
The €5.9 billion Danish fund of funds manager is a subsidiary of ATP Pension (the Danish Labour Market Supplementary Pension Scheme). The funds of funds raised by ATP Private Equity Partners are solely sponsored by ATP Pension and are generally focused on buyout, venture, and distressed related vehicles in Europe and North America, but ATP PEP also considers the rest of the world such as India, Eastern Europe, and Australia for private equity investments. ATP’s funds of funds also co-invest and have an opportunistic 0-10% allocation to secondary market fund purchases. Typically fund of funds vehicles managed by ATP PEP make commitments ranging between €10 and €100 million in size and it only considers investing in funds greater than $100 million.
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