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Portfolio Advisors hits $449m for seventh fund of funds vehicle

13 Apr 2012

Portfolio Advisors (PA)has raised $449m for its latest fund of funds according to an updated filing with the US Securities and Exchange Commission.

The firm only finished raising its sixth $1.1bn vehicle 12 months ago, but an 80 per cent re-up from investors persuaded it to launch a further fund.

PA currently manages about $30bn of assets and has been investing between $2bn and $3bn a year for its clients.

It also serves as an administrator on more than $60 billion of private equity and real estate investments.

The Connecticut, US-based advisor is believed to be targeting $1bn for its latest fund, which will be aimed at buyout and venture funds among other strategies.

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