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Unigestion Secondary Opportunity IV Has Successful Final Close

Unigestion, the boutique asset manager that focuses on guiding its clients with risk managed investment solutions, has completed the final close of Unigestion Secondary Opportunity IV (USO IV) at EUR 306 million. USO IV is the firm’s fourth global small and mid-market private equity secondary investment program, and this close is nearly twice the size of its predecessor fund.

This comes after the successful close of Euro Choice Secondary II in January, which exclusively focuses on Europe. USO IV has already completed 11 secondary transactions across North America, Europe and Asia. The final close of USO IV attracted strong investor support from both new and existing clients, including insurers, pension funds, banks and family offices across the UK, mainland Europe and Asia.

Unigestion’s strategy for USO IV is to seek secondary opportunities where high quality assets can be acquired at attractive valuations, through the acquisition of Limited Partner (LP) stakes in small and middle market funds, General Partner  led situations and secondary directs. The firm invests globally and focuses on the smaller end of the secondary market, with deal sizes ranging from EUR 5 to 30 million.

Unigestion has been investing the fund since the beginning of 2017, and has already deployed 40% of the fund. One of the fund’s first transactions was an investment in a portfolio of global coffee brands. Other investments include the restructuring of a small US fund consisting of two companies, a secondary direct investment in a portfolio of US wellness brands and a restructuring of a Nordic buy-and-build portfolio. More recently, the firm acquired an LP position in a well-known Chinese fund, and closed the direct secondary in a high growth US branded food business.

Christiaan van der Kam, Partner, Private Equity, said:

“Price discipline is of paramount importance in today’s secondary environment and our differentiated strategy at the smaller end of the market allows us to source deals outside of competitive auctions and invest in companies at more attractive valuations. 2017 was a fruitful year, given the number of high quality transactions that we completed. We are very happy with the portfolio we have built so far and are confident that the fund will deliver attractive and robust performance to investors.”