Future Standard, which manages more than $90 billion in assets, has closed PA Secondary Fund V, securing approximately $3 billion in commitments and marking the largest private fund closing in the firm’s more than 30-year history.
The fund is dedicated to acquiring interests in U.S. and global private equity funds through the secondary market, with a primary focus on LP-led transactions in the North American middle market. PASF V attracted commitments from 350 new and existing institutional investors across North America, Europe and Asia. The fund targets middle-market private equity secondaries, a segment that provides investors exposure to established portfolio companies through existing fund interests.