Performance Equity Management (a Sagard partner) announced the final closing of its fifth co-investment fund, Performance Direct Investments V (PDI V), which was above its $300 million target at $383 million. The investors include public and corporate pension plans, university endowments, private foundations, insurance companies, family offices, and ultra-high-net-worth individuals.
The fund seeks to provide investors with access to a diversified portfolio of direct co-investments, primarily in small—and middle-market buyouts and growth equity. PDI V continues PEM’s longstanding investment strategy of partnering with high-quality private market managers.
PEM’s selection capabilities and disciplined execution help construct a resilient portfolio that operates across multiple sectors, including IT, financial services, consumer and business services, and industrials. The investments will be made in companies primarily in North America and Europe.
PEM is a specialized asset manager exclusively focused on private equity solutions through commingled funds and SMA programs for institutional clients for over two decades. And through its separate account programs, PEM offers its global institutional clients access to the broad spectrum of private equity sub-asset classes worldwide, including buyout, venture capital, and various debt structures, through partnerships and direct investments.
PEM was created in 2005, and it is a leading multi-product, private equity firm with an experienced team of partners who have been working together for nearly 20 years. And with $8.9 billion in AUM, the firm’s investments substantially span all private equity areas: buyouts, venture capital, growth capital, and special situations. Plus, PEM’s senior investment team has committed $30 billion to over 175 private equity sponsors across the private equity asset class globally, including investments in buyout, venture, distressed debt funds, and $3.7 billion in direct co-investments. In 2023, Sagard, an alternative asset management firm with now over $27 billion in assets under management, acquired a strategic stake in PEM.
KEY QUOTES:
“PEM’s PDI funds have been delivering solid returns for 20 years and we believe PDI V will be no different. Our grasp on market position and trends, active and early engagement with GPs, and portfolio construction allows us the opportunity to generate strong returns for our investors.”
Managing Director Jeffrey Reals
“We believe the current market demands a dedicated focus with deep expertise to offer solutions to general partners as they engage in complex transactions. We are extremely proud of the team and infrastructure that we have built to support our managers.”
President John Clark
