Fund IV Oversubscribed Due to Support from both New and Existing Investors
DALLAS, March 2, 2023 — Traveller Capital Advisors (“Traveller” or “the Firm”), an investment firm focused on the secondary market acquisition of interests in private equity funds, today announced the successful closing of Traveller Capital Partners IV, LP (“Fund IV” or “the Fund”) with $44 million in capital commitments. Fund IV received commitments from a diverse investor group, including RIAs, family offices and sophisticated high net worth investors.
Traveller is a dedicated and active buyer of private equity fund interests on the secondary market with a focus on small-balance transactions. Since inception, the Firm has acquired approximately 100 LP interests through its first three fund vehicles. Fund IV was oversubscribed, enabling Traveller to expand its pursuit of opportunistic acquisitions of both single LP positions and portfolios of LP positions.
“We are excited by the compelling opportunity set within the smaller end of the secondary market,” commented Drew Crichton, Traveller’s founder. “Many of our investors have been with us for multiple funds, and their long-term perspective and belief in the outlook for our strategy drove a historically strong raise. We are grateful for this level of participation given today’s challenging environment for fundraising in general.”
“We strive to build on our long-term relationships and reputation as an established investor in our target market, helping to create unique sourcing capabilities to identify small-balance interests,” continued Crichton. “This is an area of the market that is less efficient, so relationships certainly matter.”
Traveller seeks to construct portfolios diversified across fund managers, vintages, sectors, strategies, and geographies within the U.S. To date, the Firm has completed two transactions within Fund IV.
About Traveller
Traveller Capital Advisors is a Dallas, Texas-based investment manager focused on the secondary market acquisition of interests in private equity funds. Founded in 2013, Traveller primarily pursues smaller secondary transactions, often mature capital accounts with balances below $2 million. Traveller considers a wide array of US-based strategy types, including buyout, venture capital, credit, and natural resource funds.
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SOURCE Traveller Capital Advisors LLC
