Secondaries Specialist Whitehorse Reins in $5.3B for Fifth Fund
Whitehorse Liquidity Partners, a Toronto-based secondaries firm, raised $5.3 billion for the final close of its fifth fund, Whitehorse Liquidity Partners V and related vehicles, exceeding a $5 billion goal.
The fund represents Whitehorse’s largest fund to date. Whitehorse has now raised $13.5 billion, sourced over $550 billion of potential opportunities, deployed over $18 billion across over 200 transactions and grown to over 155 professionals since inception eight years ago.
Nearly 85% of existing investors committed to the latest fund, according to Michael Gubbels, partner and co-founder.
Investors in the new fund include the Virginia Retirement System in 2021 and the Alaska Permanent Fund Corp. in 2022.
“As many private equity investors remain overallocated to the asset class and GPs seek thoughtful financing providers for their balance sheets, we believe the demand for our customized portfolio financing solutions will remain high,” said Yann Robard, Managing Partner of Whitehorse.
Robard and Gubbels estsablished Whitehorse after specializing in secondaries programs at Canadian pension plans. Robard spent 13 years at the Canadian Pension Plan Investment Board. Gubbels spent five years at the direct private equity investment programs at Ontario Teachers’ Pension Plan and the Ontario Municipal Employees’ Retirement System.