WTW announces first own private equity fund

24 May 2024

WTW announces its first private equity-focused fund solution. The “WTW Private Equity Access Fund” simplifies access to private equity for defined contribution plans and private wealth clients.

Management consultancy WTW announces its first own fund solution focused on private equity. The “WTW Private Equity Access Fund” (WTW PEAF) is expected to be available in Europe and the Asia-Pacific region in the third quarter following regulatory approval. The fund has already received commitments of over €500 million at launch.

This is the first time that WTW’s institutional private equity business has launched a public fund. The new fund, called “WTW Private Equity Access Fund” (WTW PEAF), will invest in a range of private equity investments, including co-investments. In the EU, this will be done via the Luxembourg structure of the “Reserved Alternative Investment Fund (RAIF). The fund has already received commitments of over EUR 500 million before launch.

Tobias Bockholt, Head of Investments Germany, says: “As experts in strategic advice on pension assets, it is our aim to present our customers with a variety of long-term solutions. With the WTW PEAF, we are closing a gap in the offering for DC plans and private wealth customers. We are pleased to now be able to offer these investors, in addition to advice, our own fund offering configured to meet their specific needs.”

The Fund supports broad-based initiatives in the DC market and other asset classes to better meet the long-term needs of many institutional investors, including pension funds. The Fund’s objective is to invest in assets that have historically been difficult for DC plans and private wealth clients to access.

“This fund is the first of its kind and is extremely interesting for investors with long-term investment strategies. With the Luxembourg-based public fund, we offer important access to private equity investments that support long-term investment strategies,” says Bockholt.

Special fund mechanisms ensure that the valuation always reflects the current value of the underlying assets, thus enabling monthly write-ups and quarterly liquidity. The process involves the use of an external appraiser who, in line with established market standards, carries out these valuations in the context of an “evergreen structure” and semi-liquid funds.

The WTW PEAF is the first evergreen fund launched by WTW’s Private Markets Solutions team. WTW plans to develop further long-term solutions to broaden its offering to investors in Europe and Asia Pacific. In addition to participants in DC plans, the PEAF will also be available to other institutional investors and professional private investors.

The WTW PEAF Fund is expected to be available in Europe and Asia Pacific in the third quarter and is subject to regulatory approval, which is expected in the second quarter of 2024.

Source: Willis Towers Watson
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