Private market funds

LANCEA assists managers raising closed ended funds investing across the illiquid alternative asset universe

We are continually looking for innovative approaches that can fit within investors’ portfolios and have worked with managers in the following asset classes and associated strategies:

  • Venture: technology, environmental and healthcare
  • Private equity: growth, buyout, turnarounds, special situations
  • Private credit: senior debt, unitranche, mezzanine, distressed debt
  • Real assets: infrastructure, real estate, natural resources

Client strategies can be single manager funds or fund of funds; either generalist or sector focussed; country specific, regional or global. We are attracted to newer institutional asset classes, often non-correlated, that merit wider exposure and scrutiny (for instance, litigation finance, aircraft leasing).

Investor appetite, market opportunity, strategy and quality, track record of manager drives our selection. Impact and ESG considerations are becomingly increasingly important.

We seek to balance our client coverage between established funds seeking to diversify and access new investors with “emerging” managers, which encompass both "next generation" funds and "emerging market" funds.

"Next generation" managers typically range from first time funds through to third and even, in certain cases, fourth time funds. For such managers, a qualified adviser with a real understanding of the market dynamics facing such funds, the types of investor more likely to invest and the range of options available can bring substantial added value.

"Emerging market" funds operate exclusively outside North American and Western Europe, and are typically independent of the large "global" multi-asset class sponsor groups.

We have also worked with high quality managers who choose to raise funds on a deal by deal basis – so-called "fundless sponsors".

Increasingly, we have worked with managers who choose to raise funds on a deal by deal basis – so-called "fundless sponsors".