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Private equity fund of funds managers continue to remain active

by Emma Dineen

  • 25 Mar 2010
  • PE

RCP Advisors and WP Global Partners are both investors in the recently closed Lovell Minnick Equity Partners III. The fund closed above its original target of USD 350 million in January, having managed to raise USD 455 million in commitments from investors. Lovell Minnick Equity Partners III targets investments in the financial services sector of North America. It typically invests USD 20 million to USD 70 million per portfolio company.

The USD 1.5 billion WP Global Partners manages funds of funds and separate account strategies to provide its clients with exposure to buyout, venture capital, distressed, special situations and mezzanine opportunities on a global scale. It is currently investing via COREalpha Private Equity Partners II, which closed on USD 354 million in September 2008, and WP Global I, which held a final close in 2005.

RCP Advisors’ commitment to Lovell Minnick Partners’ third fund follows its strategy of investing in buyout funds with a North American focus. RCP Advisors manages assets of USD 1.6 billion and is currently raising capital for RCP Fund VII, the seventh vehicle in RCP’s fund of funds series, targeting USD 300 million to invest in 10-15 mid-market buyout funds in North America.

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