HighVista Strategies, an alternative asset manager pursuing specialized investments in public and private markets, announced the final closing of HighVista Private Equity X, LP. This fund closed on $675 million of commitments, including a sizeable GP commitment and other affiliated capital. In addition to welcoming several new investors into the program, HighVista Private Equity X had received strong support from a broad group of longstanding investors, including pension funds, endowments, foundations, and family offices.
Like the predecessor funds, HighVista Private Equity X will invest in a diversified pool of small and privately-held companies, typically with less than $150 million enterprise values. And the fund has a strategy of partnering with sub-$500 million specialist private equity sponsors, co-investing directly into founder-owned and founder-led businesses in the U.S., and opportunistically acquiring lower middle market secondary interests.
KEY QUOTES:
“We are deeply grateful for the support from our existing investors, as well as many new investors, particularly in this challenging fundraising environment. We believe our steadfast focus on the lower middle market and long history of supporting the growth of small private companies resonates with a wide range of clients. There is an unusually compelling opportunity today to invest in the small end of the private equity ecosystem, and we are excited to have a fresh pool of capital to deploy against this opportunity.”
– John Dickie, Partner and co-head of HighVista’s private equity strategy
“The HighVista private equity team has been investing in the lower middle market for over 20 years, and we have continuously refined our approach to capturing alpha in the small buyout market. This latest fund close speaks to the trust our investors have placed in our team’s ability to drive attractive returns across cycles in this segment of the private equity landscape.”
– Scott Reed, Partner and co-head of the firm’s private equity strategy
“HighVista’s North Star as a firm is the pursuit of outsized alpha for our clients, and we are at our highest conviction when investing in structurally inefficient markets. The small-company buyout universe is a perfect example, where we observe less competition as a provider of capital, and entry valuations are more attractive. With the closing of this fund, we look ahead toward continued success in delivering for our clients.”
– André Perold, HighVista’s CIO and co-founder
