Skip Navigation

Private Advisors Closes Oversubscribed 8th Small Company Fund at Hard Cap of $420M

Jun 26, 2019

Private Advisors Closes Oversubscribed 8th Small Company Fund at Hard Cap of $420M

Jun 26, 2019

RICHMOND, VA – June 26, 2019 – Private Advisors, LLC (“PA”) a leading private equity investor in the Low Mid Market, held a final close for its eighth small company private equity fund (“Fund VIII”) at its hard cap of $420 million.

Fund VIII invests broadly across the Low Mid Market, including funds typically less than $500 million, direct co-investments, and opportunistic secondary transactions. The Fund has been actively investing during the fundraising period, and PA expects it to be fully committed during the third quarter of 2019.

Chris Stringer, President of PA said, “We are extremely appreciative of our dedicated limited partners and their continued support of our private equity program. Over 75% of Fund VIII’s commitments came from existing relationships. We are also very excited to gain several new investors and further expand our global LP base.”

Limited partners consist of global institutional investors such as pension plans, foundations, endowments, insurance companies, and family offices. PA employees and the firm’s parent organization, New York Life, made meaningful commitments, underscoring a strong alignment of interests with investors.

Todd Milligan, Head of Private Equity at PA, commented, “The entire PA platform and network continues to be additive to our sourcing process and enables the Fund to commit to the highest quality managers in the space. We are also pleased that the Fund successfully invested in several co-investments and secondaries that are helping to mitigate the j-curve more quickly than in prior funds.”