Fund Evaluation Group LLC affiliate FEG Private Investors has closed its third private capital fund of funds at $194.5 million, beating its $175 million target. The limited partners of FEG Private Opportunities Fund III LP include foundations, endowments, pension plans, educational institutions and religious institutions.
FEG Private Investors, LLC, an affiliate of Fund Evaluation Group, LLC (FEG), announced the final closing of its third private capital fund of funds, FEG Private Opportunities Fund III, L.P. (the Fund) on February 27, 2017.
The Fund closed with $194.5 million in capital commitments, surpassing the target of $175 million. The Fund received commitments from a wide range of limited partners including: foundations, endowments, pension plans, religious institutions, educational institutions, and other investors.
“Since we launched our first fund in 2012, we continue to see more investors who want to outsource the illiquid component of their investment portfolio,” said FEG Managing Principal, Gary Price. “Private capital funds typically have either high minimum investments, short fundraising cycles, or limited, if any, capacity to accept new investors. With our unique access to niche managers, we provide a complete, customizable solution for implementing a private capital investment program. We are honored to have such a high interest in our funds.”
This is the third private capital fund of funds managed by FEG Private Investors, LLC, a registered investment advisor and affiliate of FEG. The first fund closed in 2012 with $122.3 million and the second fund closed in 2015 with $227.3 million. All funds exceeded their target amount and FEG Private Funds now have a total committed capital of approximately $550 million.
“We recognize that investors benefit from an allocation to private investments, but only if well-structured and well managed,” said Susan Mahan Fasig, CFA, FEG Private Investors, LLC lead portfolio manager. “Our tenured and dedicated team focuses on finding unique opportunities that have the potential to outperform public markets. The fund has the flexibility to invest in private equity, private debt, and private real assets strategies.”
FEG has more than 29 years’ experience delivering investment advice and solutions to institutions. FEG has a dedicated team of 27 research and investments professionals, including a team of experienced professionals focused on private equity, special situations, and real assets. Through a highly selective and in-depth process they select managers with a balance of integrity, experience, and motivation.