Five Arrows, the alternative investment division of Rothschild & Co, has announced the successful close of its sixth fund, Five Arrows Secondary Opportunities VI (FASO VI), dedicated to GP-led secondary investments. The fund is part of the broader Five Arrows Multi-Strategies platform (FAMS).
FASO VI raised €2 billion in capital commitments, surpassing its original €1.5 billion target and doubling the size of its predecessor, FASO V. This milestone underscores the strong investor interest in the GP-led secondaries market and reinforces FASO’s unique position within this growing segment.
Fundraising for FASO VI brings total Five Arrows assets under management to more than €28 billion across its four investment strategies: corporate private equity; primary and secondary fund investing; co-investments; and senior and junior credit.
The fundraise received strong support from a globally diversified group of new and existing investors including pension funds, insurance companies, corporations, family offices and entrepreneurs. The Rothschild & Co Group, staff, and the Fund’s investment executives have also made a substantial commitment to FASO VI.
Mireille Klitting, Managing Partner of FAMS commented: “We are grateful for the trust and support of both our existing as well as our new investors. The core of our team has worked together for over 20 years, providing the foundation for an enduring focus on middle-market GP-led secondaries in Europe and North America. We also believe that being part of both a broader multi-strategies platform, as well as Five Arrows, is truly differentiating across all aspects of our business – origination, due diligence, structuring and winning transactions.”
Benjamin Breard, Partner at FAMS added: “The GP-led secondaries market has significantly grown to more than $71 billion in 2024, up from $29 billion in 2019. We remain convinced that our track record and focus for more than 20 years in this market segment will serve our investors and the GPs with whom we partner very well. Through FASO VI, we will continue to build exclusive and tailor-made transactions to unlock value for our investors.”
FASO VI has made a strong start having signed fourteen transactions, resulting in it being more than 50% committed at the final close.
The FASO team has grown significantly and now comprises a highly experienced team of almost 40 investment professionals based in Paris, New York and Luxembourg.