Sarasin Bread Street, the private equity arm of Sarasin & Partners, has secured €124m in investor commitments for its Bread Street Multi Vintage Private Equity Fund (‘MVPE Fund’).
The MVPE Fund is the first private equity strategy to be launched by the Sarasin Bread Street team following their 2022 move to global thematic asset manager Sarasin & Partners. The strategy is designed for longer-term investors and seeks to capture the higher growth and superior return characteristics offered by investment in private companies.
The MVPE Fund, a single manager multi vintage investment strategy, has acquired a diversified portfolio of fully invested funds managed by global investment firm Carlyle, enabling investors to access an existing globally diversified selection of private company investments made in vintage years spanning 2014 to 2024. This proprietarily sourced portfolio consists of 96 high-quality global companies. The MVPE Fund will also make a primary commitment to Carlyle’s Corporate Private Equity platform.
Aligned with Sarasin & Partners’ global thematic approach, the MVPE fund provides investors with exposure to key themes redefining our world.
The fund received commitments from investors from across the globe – including family offices, UHNW investors, charities and specialist private equity secondary funds.
In order to maximise the return on capital for investors, the MVPE Fund will utilise a working capital facility provided by Natixis Corporate & Investment Banking.
Alex Barr, Head of Sarasin Bread Street at Sarasin & Partners, says:
“Despite a challenging private equity fundraising environment, investors have shown appetite for this strategy that mitigates much of the traditional private equity ‘J-curve’. The fund’s differentiated features have appealed to investors – including the accelerated deployment of capital into an attractive portfolio and efficient capital recycling.”
James Witter, Head of Sarasin Bread Street at Sarasin & Partners, comments:
“For investors beginning to invest into private equity, the immediate vintage diversity of the MVPE Fund’s portfolio and associated risk reduction proved popular. Equally, for experienced investors, the combination of a ‘secondary’ and ‘primary’ investment strategy was appealing. We believe that by working closely with leading private equity managers, the MVPE Fund and its successors will provide investors with a highly attractive way to gain exposure to ‘blue chip’ private equity.”
Guy Matthews, Managing Partner at Sarasin & Partners, adds:
“The success of the first private markets strategy by Sarasin Bread Street demonstrates the accelerating demand for private equity among our existing client base and new external prospects. It further validates our strategic decision to acquire the proven Sarasin Bread Street team in 2022. Pleasingly, the majority of the funds raised for MVPE came from new clients, highlighting the capacity of Sarasin & Partners to appeal to a broader audience as we continually develop our product offering.”
Notes to editors:
Sarasin & Partners LLP – www.sarasinandpartners.com
Sarasin & Partners LLP is a London-based asset management group that manages £19.6bn of AUM (as of 30.06.2024) on behalf of charities, private clients, intermediaries, institutions, and pension funds from the UK and around the world. Sarasin & Partners take a long-term, thematic approach to investing, identifying powerful trends that will shape the investment landscape for years to come.
Sarasin & Partners LLP is a limited liability partnership authorised and regulated by the UK Financial Conduct Authority.
Sarasin Bread Street – https://sarasinbreadstreet.com/
Sarasin Bread Street is the specialist private markets business of Sarasin & Partners LLP and is focused on delivering and managing innovative, differentiated private market products for a full range of institutional and professional clients. Sarasin Bread Street products are for professional investors only.