Private equity fund of funds specialist RCP Advisors is expecting a final close of its latest flagship fund within weeks, AltAssets can reveal.
The firm had gathered close to $280m of commitments for RCP Fund XI at the end of last year according to a source with knowledge of the fundraise.
They said RCP was eyeing a final close for the fund at the end of March, having already passed its $250m target.
AltAssets revealed in December that RCP could collect up to a $400m hard cap for the vehicle, according to details revealed in a US securities filing.
The Chicago-headquartered firm landed at least $242m for its previous fund last year, although has not publicly revealed how much RCP Fund X was closed on.
Its collected $350m for its ninth fund in early 2015, and close Fund VIII in 2013 with about $267m of commitments.
The Florida State Board of Administration and the Nebraska Investment Council both made commitments to Fund VIII, although it is not clear whether they have re-upped in the latest raise.
Founded in 2001, RCP claims to be one of the largest private equity fund of funds sponsors focused exclusively on the lower middle market buyout sector.
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