Family office Stonehage Fleming has revealed the closing of the Stonehage Fleming Global Private Capital Fund 2024, which secured more than $160m.
The Global Private Capital 2024 Fund is the latest addition to Stonehage Fleming’s innovative private capital programme (Stonehage Fleming Private Capital Annual Vintage Programme).
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Each year, the fund invests in about eight competitive managers, providing underlying exposure to 100-150 high-quality portfolio companies.
The goal of the Stonehage Fleming Private Capital Annual Vintage Programme is to provide its customers with a concentrated portfolio that gives them access to high-performing private equity market segments, as well as rapid capital deployment and little administrative cost for investors.
When opposed to many other options, the programmes systematic portfolio construction seeks to reduce the risk profile for its clients.
The strategy prevents the initial negative returns and cash flows that private equity investors usually face in the early days of their portfolio and instead reaps the benefits of the private markets from day one by allocating a sizeable percentage of the fund at launch.
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By GlobalDataSince 2001, Stonehage Fleming has invested more than $1.5bn in the private capital markets.
The team’s principal investment strategy, which focuses on the small- and mid-market segments globally, will be carried out by the 2024 Fund.
Graham Wainer, CEO and head of investments, Stonehage Fleming Investment Management, stated: “Private Capital is a key part of the Stonehage Fleming investment proposition, and we are extremely pleased by the strong support from both new and existing investors for this strategy. The successful close of the Stonehage Fleming Private Capital Fund 2024 is an endorsement of the experienced team and the unique benefits of our approach.”
Mat Powley, partner and co-manager, Stonehage Fleming Private Capital Annual Vintage Programme, shared: “We are thrilled with the final close of our 2024 Fund at over $160m representing our largest fund to date. That we have been able to consistently grow our annual vintage funds every year since inception is testament to the trust that we have instilled in our clients, and we continue to believe that our strategy of building high conviction portfolios and partnering with strong performing private capital managers globally will benefit our clients and their families.”
Meiping Yap, director and co-manager of the Stonehage Fleming Private Capital Annual Vintage Programme, added: “We are excited to close on our largest annual vintage fund to date on behalf of over 100 families. Private capital continues to be a key driver of returns and diversifier of risk in the investment portfolios of many families. We continue to have strong conviction in our strategy of partnering with top performing and hard to access private capital managers in the small and mid-market segments.”
