Global wealth manager Quilvest raised $1.3bn towards its private equity investment strategy in 2013, surpassing its $500m target.
This included three new mandates comprising two global sovereign wealth fund and one pension fund.
Across its global private equity investment platform, Quilvest committed more than $700m with a roughly 50/50 split between new direct and indirect investments in small and mid-cap companies
Quilvest’s fund of funds platform committed over $350m to 30 managers globally. All 16 of its funds of funds are expected to yield a positive net IRR and 14 of those are expected to be comfortably in the double digit net IRR territory, according to Quilvest CEO Michel Abouchalache.
“Our increasing global presence and weight, coupled with our opportunistic approach in the small and mid cap space are the key drivers of our top quartile performance.”
Quilvest & Partners is the management company of Quilvest Private Equity, the private equity arm of Quilvest Group, which has assets under management of $5bn. Originally launched to manage the assets of Argentina’s Bemberg family – founders back in 1888 of the Quilmes brewery – the firm developed from a single family offices to a wealth manager with offices in Paris, London, Zurich, Luxembourg, New York, São Paulo, Dubai and Hong Kong.
The original family office made investments throughout the 1950s and 1960s, within more of a merchant banking template. In time this turned into fund investing, which continued through to the late 1990s. It also developed its wealth management business, opening up the platform to other asset classes, from hedge funds to liquid assets and private banking.
It now invests on behalf of more than 400 clients, many of them private individuals and families.
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