Stonehage Fleming holds final close on Private Capital Annual Vintage programme

Date: 05 Sep 2023

Karen Jones

Stonehage Fleming announces the final close of the Stonehage Fleming Global Private Capital Fund 2023 in excess of $130 million.

The Global Private Capital 2023 Fund is the latest in a series of annual funds for Stonehage Fleming’s innovative private capital programme. Each annual fund invests in six to eight best-in-class managers that will provide underlying exposure to between 70 and 120 high quality portfolio companies.

The Private Capital Annual Vintage Programme seeks to offer its clients access to top-performing segments of the private equity market through a concentrated portfolio, together with accelerated deployment of capital and minimal administrative burden for investors.

The programme’s disciplined portfolio construction aims to lower the risk profile for its clients compared with many of the alternatives. By deploying 50% of the fund at inception, the programme captures the benefits of the private markets from day one and avoids the initial negative returns and cash flows typically experienced by private equity investors in the early days of their portfolio.

Stonehage Fleming has committed a total of over $1.5 billion to private capital markets since 2001. The 2023 Fund will continue the team’s primary investment strategy of focusing on the small and mid-market segments globally.

Graham Wainer, CEO and Head of Investments, Stonehage Fleming Investment Management, said: “Private capital is a key part of the Stonehage Fleming investment proposition and we are extremely pleased by the strong support from both new and existing investors for this strategy. The successful close of the Stonehage Fleming Private Capital Fund 2023 is a testament to the experienced team and an endorsement for the unique benefits of our approach.”

Mat Powley, Co-Manager of the Stonehage Fleming Private Capital Annual Vintage Programme, said: “We are thrilled with the final closing of our eighth annual vintage fund and our largest fund to date.  We continue to believe that our strategy of building high conviction portfolios of strong performing and hard to access private capital funds, established through our years of experience and long-standing relationships, will benefit our clients and their families for years to come.”

Meiping Yap, Co-Manager of the Stonehage Fleming Private Capital Annual Vintage Programme, said: “Since its inception, our Private Capital Annual Vintage Programme has recorded double-digit growth in fund size with the 2023 Fund being invested on behalf of over 90 families. We are excited to continue delivering strong returns for our investors as we work towards building a self-funding portfolio of high-quality private equity investments across North America, Europe and Asia.”

All investments risk the loss of capital. Investments in private equity funds involve a high degree of risk and are only suitable for investors who fully understand and are willing to assume the risks involved. This fund is not regulated or authorised by the Financial Conduct Authority and nor are the underlying funds.  No guarantee or representation is made that the funds will achieve their investment objective. Unquoted investments may be difficult to sell at a reasonable price because there will not be an active market in those investments and, in some circumstances, they may be difficult to sell at any price.  This may inhibit sales in the event of an investor wishing to liquidate part or all of their investment.

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