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North America-Based Private Equity Fund of Funds Managers Making New Investments – November 2014

by Raisah Yusuf

  • 05 Nov 2014
  • PE

There are currently 112 North America-based private equity fund of funds managers looking to make new private equity fund commitments over the next 12 months, according to Preqin’s Investor Intelligence online service. These fund of funds managers will commit capital globally across a range of fund types, but a clear preference exists for buyout, venture capital and growth vehicles, as shown in the chart below.

The largest fund of funds manager based in North America looking to make new commitments is AlpInvest Partners, with $48bn in private equity assets under management. Over the next 12 months, the firm expects to commit to global buyout, growth, turnaround and venture capital vehicles, through a number of its separate account mandates. It would commit to a pure first-time fund. 

Goldman Sachs AIMS Private Equity is the second largest fund of funds manager based in North America looking to make new commitments. The firm, which has $41bn in private equity assets under management, will be committing to new private equity funds through its fund of funds vehicle, Private Equity Partners XI. The vehicle focuses on buyout, venture capital and special situations funds, globally. At least 75% of the fund’s capital will be allocated to primary investments, while it also has the capacity to make secondary and direct investments. Goldman Sachs AIMS Private Equity would commit to a fund raised by a spin-off management team, and manages separate accounts. 

The third largest North America-based fund of funds manager looking to make new commitments over the next 12 months is HarbourVest Partners, with $35bn in private equity assets under management. The firm will make new commitments through a number of its fund of funds vehicles, including HarbourVest Partners 2013 Direct Fund, a co-investment multi-manager vehicle, and its most recent fund of funds vehicle, HarbourVest International VII Partnership. Both funds will commit to a range of fund types globally.

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