Montana Capital closes oversubscribed fund at €1.3 billion

Swiss secondary private equity investor Montana Capital Partners has called on Clifford Chance on the successful close of its fifth fund.

The fund, mcp Opportunity Secondary Program V, was heavily oversubscribed for eight months and closed with a hard cap of EUR 1.3 billion with an additional team commitment.

The fund attracted investment from a number of new and existing investors including sovereign wealth funds, pension funds, insurance companies, family offices and foundations spread across Europe, Asia, the Middle East and United States.

Montana Capital focuses its investments on reformulating and improving investors’ portfolios. They cover the full range of investment including direct co-investments into companies, single fund interests, shares in funds of funds, smaller portfolios and structured solutions with the aim of reducing mitigating risk capital.

The company also worked with general partners to help them and their investors find liquidity solutions.

“The fund was oversubscribed and was raised during the pandemic through virtual due diligence meetings only” said Montana Capital in a company press release on 7 January, adding: “We are very grateful for the support from our investors, which include some of the most reputable and sophisticated institutional investors in the world.”

By closing the fund at EUR 1.3 billion, Montana Capital has maintained its track record of closing all of its funds at their hard caps, reflecting support from investors.

In total, mcp Opportunity Secondary Program V is backed by 40 institutional investors, with managing partner and co-founder Christian Diller praising their stature as “some of the most reputable and sophisticated institutional investors from around the globe”.

Montana’s other co-founder and managing partner, Marco Wulff, noted the company’s shift in focus over the last few years, to “market niches”, which he said has served the company well. The strategy, he emphasised, “is particularly well-suited for an environment that is characterised by a higher degree of uncertainty”.

Clifford Chance used an international team to advise Montana Capital comprising Munich partner Sonya Pauls, London partner Anthony Stewart, Frankfurt partners partners Jan Grabbe and Marco Simonis, and New York partners Avrohom Gelber and Jeff Berman, who were all helped by various senior associates and associates.

Elsewhere, in Africa, Private equity manager African Infrastructure Investment Managers increased the capital in its African Infrastructure Investment Fund 3 fund to USD 400 million in December last year. The extra capital will be put towards investments in energy, power, transport and digital infrastructure.

Source: ICLG

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