ACE & Company announces Record Commitments Towards Flagship Secondary and Buyout Vehicles
Founder sees investment firms playing key role in supporting companies and entrepreneurs in economic transition
Geneva, 28 April 2020: Swiss-founded global private equity boutique, ACE & Company, has announced today that it formally closed its fifth Secondary fund at its highest level yet. The firm also revealed it has already received subscriptions reaching $100 million for its fourth Buyout vehicle, a Luxembourg RAIF structure, ahead of its first closing.
Adam Said, CEO of ACE & Co, commented: “We are pleased and grateful by the interest in two of our flagship funds in these times of economic turbulence. The level of interest can be seen as a measure of smart investors actively recognizing opportunities but is also a positive sign of the financial community playing a role in supporting companies and entrepreneurs through direct investment”.
“We are living through an unprecedented global crisis that will accelerate economic and social transitions. The continued growth in direct investments activity remains the most effective way to support innovation and corporate sustainability. Governments have stepped in to dampen the immediate impact of this crisis through necessary and proactive actions. The private sector, especially financial institutions, must now do its part in the months ahead to support businesses in a timely and aligned manner.” As of end of 2019, the number of private equity backed companies in the United States was more than double publicly listed companies; with over 8,000 PE companies (100% growth since 2006) versus 3,670 listed companies (50% drop since 1996) according to McKinsey private markets report*.
ACE & Company manages a niche secondary strategy of acquiring small commitment fund interests in high quality private capital managers. Combined, ACE Secondary Investments I, II, III and IV is a strategy of over $100 million that has consistently outperformed its respective vintage year peers.. ACE’s current fund has been upsized to capitalize on current dynamics and market dislocation.
In addition, with $100 million in fresh capital for the first close of ACE Buyout IV, the company is well positioned to adapt to trends and markets shifts through current economic uncertainty. The three previous vintages of ACE Buyout executed investments in over 60 large transactions along top tier private equity sponsors since 2011. ACE & Company expects to reach $200 million in total commitment in the Buyout IV co-investment strategy, bringing the entire Buyout strategy (I,II,III,IV) to over $600 million.
ACE & Company, founded in 2005, has grown organically to over $1bn in total assets. In 2017, it was one of the first independent global private equity firms to be granted an Asset Manager license by the Swiss financial regulator FINMA. Last year, ACE’s New York operations, which was launched in 2017, became a Registered Investment Advisory with the SEC, augmenting its existing presence in Geneva, Cairo, Hong Kong and London.