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Federated Hermes closes its fifth Private Equity fund PEC V
Alternative funds

Federated Hermes closes its fifth Private Equity fund PEC V

The Fund’s global forward-looking, thematic strategy targets companies operating in sectors set to benefit from long-term trends.
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11 JUL, 2023

By RankiaPro Europe

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Federated Hermes announces the successful closure of its fifth flagship Private Equity Co-investment fund (PEC V LP, PEC V, or The Fund).

PEC V has a proven, alpha-oriented strategy that provides investors with access to leading growth companies. The Fund’s global forward-looking, thematic strategy targets companies operating in sectors set to benefit from long-term trends that are reshaping global economic activity. Additionally, the strategy places emphasis on portfolio construction, with the objective of delivering strong and sustainable returns, irrespective of what happens on the global stage. 

PEC V launched and held its first close in December 2021, with an initial fundraising target of $400 million. The Fund significantly surpassed its target and held its final close in June 2023 reaching $486 million. Commitments came from existing PEC series investors including, but not limited to Local Pensions Partnership Investments (LPPI) and Hostplus as well as new investors from Europe and Korea, such as Samsung Life Insurance.

PEC V has already committed to 23 investments with a further seven IC approved, as of today. Federated Hermes GPE has a 22-year track record of making co-investments, having committed $4.5 billion across 278 global co-investments, as of 31st March 2023.

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