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London-based secondaries investor Hollyport Capital closed its ninth flagship fund at $4.5 billion, making it one of Europe’s largest secondaries fundraises this year.
Hollyport Secondary Opportunities IX beat its $3 billion target, raising $4.3 billion for the fund and an additional $250 million through separately managed accounts. It is also twice the size of its predecessor, Hollyport VIII, which closed with $2.2 billion in 2022.
Fund IX received a 150% re-up from existing LPs and $1 billion from new investors. It has already invested $1.1 billion across 12 transactions and is expected to be over 30% deployed by year’s end. The fund follows the firm’s strategy to invest in mature PE assets through LP portfolios and GP-led transactions.
Fund IX is Europe’s sixth-largest secondaries fundraising this year.
Ardian raised $30 billion for Ardian Secondary Fund IX in January, making it the world’s largest secondaries fundraise ever.
AlpInvest reached its hard cap in September after collecting $15 billion for AlpInvest Secondaries Program VIII. It also raised $3.2 billion in co-investment commitments and $2 billion for the private wealth vehicles investing alongside ASP VIII.
Secondaries fundraising has reached new heights this year, with $77.8 billion already raised in Europe, triple the total raised in 2024. Fund sizes are rising, with only 17 fund closes contributing to the total, compared to 25 fund closes last year.
Founded in 2006, Hollyport has completed more than 200 secondaries transactions and delivered a pooled net return of 1.84x to investors with an IRR of 26%, according to a statement. The firm manages $9 billion of assets, including its latest fundraise.
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