- Whitehorse Liquidity Partners recently announced that it closed Fund III at a $2 billion hard cap
Whitehorse Liquidity Partners — a specialized investment manager focused on providing structured liquidity solutions to the alternative asset class — announced a final close for Whitehorse Liquidity Partners Fund III at a $2 billion hard cap.
“We are pleased to announce the final closing of Fund III at our hard cap of $2 billion. We remain grateful for the confidence, conviction and support provided to us by our investors. Without investors, there would be no Whitehorse. The increase in the size of Fund III reflects the scale of the market opportunity we have created and are capturing,” said Whitehorse managing partner Yann Robart. “Whitehorse’s partnership-based approach has resulted in rapid market adoption and a significant and growing pipeline of opportunities. We have executed on 39 pending or closed transactions representing US$3.2 billion since establishing Whitehorse in August 2015. We remain committed to scaling successfully through measured growth of our organization. Our team has grown to 38 people and counting as we seek to plan for rather than react to complexity.”
This is a significant increase from the $1.5 billion target and double the Whitehorse’s $1 billion Fund II, which had closed in August 2018.
“Fund III was oversubscribed and completed its final closing less than a year from its launch. We attribute the speed and success of our Fund III fundraise to the continued support of our existing investor base and the conviction of investors who are new to Whitehorse. We would like to take this opportunity to thank all of our investors for their belief in Whitehorse,” added Whitehorse partner Michael Gubbels.
Whitehorse’s investor base includes leading insurance companies, public and corporate pension plans, family offices, financial institutions, and individual investors.
“Whitehorse’s traction in the private equity market is the result of our focus on offering nimble, customized and aligned liquidity solutions and finding the win-win in all that we do. Our innovative and flexible approach has been additive to the secondary market, offering a differentiated means of accelerating liquidity for the alternative asset class,” explained Whitehorse partner Giorgio Riva.
Whitehorse focuses on providing structured liquidity solutions to the alternative asset class. And Whitehorse has identified what it believes is a significant and untapped market opportunity in the utilization of structured products to generate liquidity on private equity portfolios.
“To effectively capture the growing market opportunity, we have continued to expand our team. The Whitehorse team is currently comprised of 38 professionals across Whitehorse’s three core functions – Capital Management, Firm Management and Asset Management – and we anticipate adding more talent in the coming year,” commented Whitehorse partner Robert Gavin.
Launched in 2015, Whitehorse seeks to provide customized and flexible liquidity solutions for private equity investors.
“In the last year alone, Whitehorse has nearly doubled the size of its operations team to support the growth in the business. Through hiring a team of talented, specialized professionals, we have built an institutionalized operations department,” noted Whitehorse chief financial officer Sean Connor.
Ever since Whitehorse launched, it raised $3.4 billion in committed capital across three funds and has closed or committed to 39 transactions with a value of over $3.2 billion.
“We are proud of the exceptional team that we continue to build at Whitehorse and thankful to everyone for their dedication and hard work. Likewise, we are grateful for the strong support of our limited partners and focused on continuing to come through on our commitments to them,” stated Whitehorse General Counsel Leah Boyd.
Kirkland & Ellis had served as legal counsel for Whitehorse and Fund III.
