Stonehage Fleming, a global independently owned multi-family office, today (14 August) flagged the final close of the Stonehage Fleming Global Private Capital Fund 2024 in excess of $160m.
The Global Private Capital 2024 Fund is the latest in a series of annual funds for Stonehage Fleming’s innovative private capital programme. Each annual fund invests in approximately eight best-in-class managers that will provide underlying exposure to approximately 100-150 high quality portfolio companies.
The Stonehage Fleming Private Capital Annual Vintage Programme seeks to offer its clients access to top-performing segments of the private equity market through a concentrated portfolio, together with accelerated deployment of capital and minimal administrative burden for investors.
The programme’s disciplined portfolio construction aims to lower the risk profile for its clients compared with many of the alternatives. By deploying a significant proportion of the fund at inception, the programme captures the benefits of the private markets from day one and avoids the initial negative returns and cash flows typically experienced by private equity investors in the early days of their portfolio.
Stonehage Fleming has committed a total of over $1.5bn to private capital markets since 2001. The 2024 fund will continue the team’s primary investment strategy of focusing on the small and mid-market segments globally.
Graham Wainer, CEO and head of investments, Stonehage Fleming Investment Management, said: “Private Capital is a key part of the Stonehage Fleming investment proposition and we are extremely pleased by the strong support from both new and existing investors for this strategy. The successful close of the Stonehage Fleming Private Capital Fund 2024 is an endorsement of the experienced team and the unique benefits of our approach.”
Mat Powley, partner and co-manager, Stonehage Fleming Private Capital Annual Vintage Programme, said: "We are thrilled with the final close of our 2024 Fund at over $160m representing our largest fund to date. That we have been able to consistently grow our annual vintage funds every year since inception is testament to the trust that we have instilled in our clients and we continue to believe that our strategy of building high conviction portfolios and partnering with strong performing private capital managers globally will benefit our clients and their families.”
Meiping Yap, director and co-manager of the Stonehage Fleming Private Capital Annual Vintage Programme, said:
“We are excited to close on our largest annual vintage fund to date on behalf of over 100 families. Private capital continues to be a key driver of returns and diversifier of risk in the investment portfolios of many families. We continue to have strong conviction in our strategy of partnering with top performing and hard to access private capital managers in the small and mid-market segments.”
