Pictet Alternative Advisors Private Equity Fund of Funds raises Over USD1.1 billion

Pictet Alternative Advisors (PAA), the alternative investment specialist of the Pictet Group, has announced the close at USD1.164 billion of Monte Rosa V, the fifth fund in a series of diversified, multi-manager private equity funds.

Maurizio Arrigo, Head of Private Equity, PAA, said: “The capital raise represents an important achievement for Pictet that positions us 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.”

“We are particularly grateful to our investors for their continued support in these challenging times,” Arrigo continued.

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 firm said in a press release.

This 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.

Pictet utilises a consistent portfolio construction approach across its private equity funds, irrespective of total capital raised. Pictet has nurtured longstanding and close relationships with a limited number of private equity firms where access to investment funds can otherwise be restricted.

“We are very selective when adding new relationships and strive to identify private equity teams that stand out for their track record, specific strategy and investment discipline,” Arrigo said.

PAA created the Monte Rosa franchise in 2008 and launched Monte Rosa I with the aim of offering private equity to a wider range of clients. As of July 2020, PAA manages USD15.5 billion in private equity, of which USD12.5 billion is in segregated accounts and USD2.9 billion in the Monte Rosa commingled fund of funds programme.