RCP Advisors Closes Secondaries Fund With $425M

Law360, New York (August 1, 2013, 1:24 PM EDT) -- Private equity fund-of-funds firm RCP Advisors has closed its latest secondaries fund with $425 million, far outstripping its fundraising target of $300 million, Chicago-based RCP announced late Wednesday.

RCP said it Secondary Opportunity Fund II will acquire interest in established private equity funds through secondary market purchases. RCP will seek out private equity firms that focus on North American lower middle-market buyouts.

The fund was significantly oversubscribed, out-performing its fundraising target by nearly 42 percent. 

"Secondary funds are the focus of many investors’ attention these days,"...
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