HQ Capital successfully closes secondary funds ASF IV and AASF

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- ASF IV holds final close at USD 503 million, AASF at USD 250 million hard cap

- Both funds were oversubscribed, reflecting continued strong market interest in secondary investments and in HQ Capital's strategic approach

- Fund closings strengthen HQ Capital's position as a leading, independent manager of alternative investments

NEW YORK, FRANKFURT AND HONG KONG / ACCESSWIRE / May 2, 2018 / HQ Capital ("HQC"), a leading independent manager of alternative investments, announced the final closing of its global secondary fund, Auda Secondary Fund IV ("ASF IV"), and its Asia-focused secondary fund, Auda Asia Secondary Fund ("AASF"), with combined third-party capital commitments of USD 674 million.

Both funds were oversubscribed, receiving significant interest from existing and select new investors from around the globe. ASF IV closed on USD 503 million of capital, exceeding its original target of USD 450 million, and AASF closed at its hard cap of USD 250 million, surpassing its USD 200 million target (inclusive of USD 79 million in capital allocated by ASF IV and by Auda Asia IV, HQC's Asia-focused platform fund).

Like its predecessor funds, ASF IV will seek to construct a globally diversified portfolio of private equity assets through a combination of traditional and non-traditional secondary market transactions. Traditional deals will typically involve the purchase of limited partner interests in buyout, growth equity, venture capital and other private funds. Non-traditional deals will generally include sponsorship of private equity fund recapitalizations; purchases of portfolios of direct company interests; and purchases of securities in a single company. AASF will employ the same market approach, investment strategy, structured investment process, and key portfolio construction guidelines as ASF IV, but will focus exclusively on Asia-based secondary transactions. Both funds will target small and mid-sized transactions, typically ranging from USD 10-20 million in value.

Chris Lawrence, Managing Director at HQC, said: "The strong demand we have seen from investors demonstrates a continued high level of interest in secondaries. We believe our focus on the generally less crowded small and mid-sized transaction segment, will provide opportunities for negotiated purchases, better pricing and enhanced risk-adjusted returns for ASF IV. As the secondary market continues to grow and evolve, we look forward to applying our 29 years of experience and local market expertise in the U.S., Europe and Asia toward identifying and executing on attractive and innovative investment solutions."

Georg Wunderlin, CEO of HQC, added: "The successful closing of ASF IV and AASF marks another milestone in our specialized strategy, manifesting our position as a leading, independent manager of alternative investments. We are proud to have earned investors' trust and are fully committed to using our experience and global presence to find attractive niche investment opportunities."

ASF IV and AASF are the fourth and fifth funds raised by HQC dedicated to making private equity secondary investments. HQC will draw on its global resources in managing ASF IV and AASF, with sourcing and execution of transactions led by investment professionals operating out of offices in New York, Frankfurt and Hong Kong. To date, the funds have already closed on a combined 25 transactions representing approximately USD 230 million in committed capital.

HQC's limited partners include insurance companies, pension funds, financial institutions and family offices as well as high net worth individuals, endowments and foundations.

Fundraising for ASF IV and AASF is now closed. Accordingly, the foregoing text should in no way be interpreted as any form of offer or solicitation to subscribe to or make any commitments for or in respect of any securities or other interests or to engage in any other transaction.

About HQ Capital

HQ Capital is a leading independent manager of alternative assets, investing on behalf of institutions and families in global private equity and U.S. real estate since 1989. The firm's 140 employees currently manage USD 11.3 billion in total assets from 10 offices in North America, Europe and Asia. With its innovative and entrepreneurial culture, strong investment acumen, and commitment to social responsibility, HQ Capital is a trusted partner to its clients worldwide. Further information can be found at www.hqcapital.com.

Media Contact

Europe
Anna Steudel
+49 69 5060 37567

United States
Aduke Therwell
+1 212 521 4837

press@hqcapital.com

SOURCE:
HQ Capital
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