Debevoise Leads Glendower Capital Fund To $2.7B Close

Law360 (July 31, 2019, 3:37 PM EDT) -- Secondary-market private equity firm Glendower Capital said Wednesday it closed its latest fund at $2.7 billion with guidance from Debevoise & Plimpton.

The London-headquartered investment firm said the close for its Secondary Opportunities Fund IV LP was above its initial hard cap. The vehicle is Glendower’s first fundraising since it was founded as an independent secondary private equity manager in 2017, the announcement said.

Investors included a global mix of public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and family offices, according to the announcement.

Private equity secondaries, which involve the acquisition or sale of investors’ existing interests...

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