Strategy enables diversified allocation to outperforming emerging managers
New York, NY (December 6, 2021) – PineBridge Investments, a private, global asset manager focused on active, high-conviction investing, today announced the final close of the PineBridge Preferred Participation Fund, L.P at $334.3 million. The multi-manager private equity fund focuses exclusively on partnering with managers who are raising capital for their initial commingled institutional private equity funds.
Through the Preferred Participation strategy, PineBridge investors aim to deploy capital into high performing yet under-allocated segments of the private markets, enabling investors to diversify their private markets portfolios.
The Preferred Participation strategy aims to enable access to these managers for a greater range of investors. In addition, by serving as an anchor investor, many of these newly formed funds with new management teams have more certainty of closing and can be supported as they scale.
“Institutional investors have increased allocation to a more selective pool of managers, with only 2% of all private equity capital deployed to first time funds last year1-- making it harder for those managers to reach capital raising goals,” said Steve Costabile, Global Head of the Private Funds Group for PineBridge Investments. “The Private Funds Group has had success supporting first-time managers over the last 20 years, and the Preferred Participation strategy is an extension of that, allowing investors to focus exclusively on this distinctive area of the private equity market. Through this strategy, we have built relationships for ourselves and our clients with the next generation of industry leaders.”
The Preferred Participation strategy aims to focus on emerging private equity fund managers with experience at reputable firms who are located primarily in North America and Western Europe.
1 Source: Preqin; Strategy: Buyout; Fund Status: Closed to Investment, Liquidated; Primary Geographic Focus: North America, Europe; Fund Size: >=25mm; Vintages: 2000-2020.
PineBridge Investments is a private, global asset manager focused on active, high-conviction investing. We draw on the collective power of our experts in each discipline, market, and region of the world through an open culture of collaboration designed to identify the best ideas. Our mission is to exceed clients’ expectations on every level, every day. As of 30 September 2021, the firm managed US$141.8 billion across global asset classes for sophisticated investors around the world.
AUM as of 30 September 2021 includes US$33.8 billion (US$18.7 billion equities, US$15.1 billion fixed income) of assets managed by joint ventures or other entities not wholly owned by PineBridge Investments. Includes PineBridge Benson Elliot Real Estate AUM of US$3.0 billion.
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