– Future Standard, a global alternative asset manager with over $90 billion in assets under management, has completed the final close of PA Secondary Fund V (PASF V) with approximately $3 billion in commitments.
– PASF V represents the largest private fund closing in Future Standard’s more than 30-year history.
– The fund focuses on acquiring interests in U.S. and global private equity funds through the secondary market.
– Its primary investment strategy targets LP-led secondary transactions in the North American middle market.
– The approach emphasizes selectivity, diversification, and disciplined capital deployment, supported by Future Standard’s extensive private equity network.
– Patrick Gerbracht, Managing Director and Co-Head of LP-Led Secondaries, stated middle-market secondaries provide efficient access to high-quality companies with attractive entry valuations, greater visibility, and strong risk-adjusted return potential.
– PASF V secured commitments from 350 new and existing institutional investors across North America, Europe, and Asia.
– Justin Lux, Managing Director and Co-Head of LP-Led Secondaries, noted that record secondary market volumes are creating one of the most attractive investment environments in recent years.
– Since 2002, Future Standard estimates it has deployed more than $12 billion in secondary investments across multiple market cycles.
