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Adveq secondary fund closes on $175m hard cap

1 Oct 2013

Zurich-headquartered asset management firm Adveq has raised $175m for its Adveq Secondaries II fund, surpassing its $150m target and reaching its hard cap.

Adveq Secondaries II will continue the strategy of its predecessor fund, the firm said, executing “sub-radar transactions” across a range of investment stages, including small and midsize buyout opportunities, development capital, seed/early-stage venture capital and special situations.

Sven Lidén, CEO, Adveq, said, “At Adveq we are big believers in the value of sub-radar secondary transactions. The expertise of our global team allows us to target those single line sales or small portfolios, typically from smaller funds, which only a few potential buyers with deep insights can access. The great deal of interest that Adveq Secondaries II has received since its launch shows that investors mirror this view.”

Last month Adveq opened a new office in London. The firm has also raised €300m for its latest European-focused fund of funds, meeting its target. Adveq is currently waiting for a couple of smaller investors to finalise their commitments before a final closing, according to a source.

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