Clipway has closed its debut fund, Clipway Secondary Fund I, at $6.4 billion, a world record for a first-time secondaries platform, after starting the raise with a $4 billion target.
All three managing partners, Vincent Gombault, Ingmar Vallano, and Benoît Verbrugghe, previously held senior roles at Ardian, one of Europe’s largest private equity firms, with Gombault having co-founded the Fund of Funds business within what became Ardian.
Clipway’s proprietary AI platform, TESS, processed more than $267 billion of secondary opportunities and rejected 97% of them, deploying just over $6 billion across 1,403 companies and 177 funds.
When three of the most senior executives at one of Europe’s largest private equity firms walk out and set up a competitor, the industry pays attention. When that competitor raises $6.4 billion in its debut fund, closing 60% above its original $4 billion target, the industry has its answer.
Clipway, the London-based private equity secondaries firm, has announced the final close of Clipway Secondary Fund I at $6.4 billion, making it the largest debut secondaries platform ever raised and establishing the firm as the world’s largest independent dedicated secondaries firm. The fund attracted commitments from 186 limited partners across 6 continents, including sovereign wealth funds, pension plans, insurance companies, endowments, and family offices. By capital committed, the LP base spans Europe at 44%, North America and Latin America at 21%, the Middle East at 18%, and Asia at 17%.
