Cuatrecasas advises Crescenta on setting up its first secondary venture capital fund with Mercer
Don’t miss our content
SubscribeCuatrecasas has advised Crescenta—a digital management company of collective investment undertakings specializing in private equity funds—on creating a joint venture with Mercer Global Investments Europe for the launch of “Crescenta Private Equity Secondaries I, FCR,” its first secondary venture capital fund.
The fund will invest in GP-led and LP-led transactions in the secondary market, focusing on developed markets. It aims at acquiring good quality mature assets and positions at attractive prices, based on a solid diversification criterion and the search for a balanced risk-return profile.
The new vehicle, with a target size of €60 million, seeks a net annual return of 15% and plans to carry out between 15 and 40 transactions to build a diversified portfolio through different managers, periods, geographical regions, and sectors. Over 50% of the investments will be in GP-Led transactions, where the manager holds assets for an additional period to capture their potential value.
The lifespan of the new fund is estimated at eight years, with the possibility of extending it to ensure good management. It is available to retail and professional investors with a minimum commitment of €10,000, to be paid in installments.
The Cuatrecasas advisory team was made up of Jorge Canta and Francisco Sánchez Cuéllar from the Fund Formation specialty area.
Don’t miss our content
Subscribe