50 South Capital Advisors, Northern Trust Asset Management’s global alternatives investment manager, announced the final closings of two of its flagship private equity funds, both significantly exceeding their fundraising targets. Private Equity Strategic Opportunities Fund V (“PESOF V”) closed with $1.2 billion in commitments and Private Equity Core Fund XI (“PECF XI”) closed with $893 million in commitments, with investors across wealth, family offices, intermediaries, consultants and institutions.

PESOF V is 50 South Capital’s fifth dedicated secondaries fund and continues the firm’s multi-strategy approach to the secondaries market, targeting LP-led transactions, GP-led single- and multi-asset continuation vehicles, and structured/preferred equity solutions.

“PESOF V represents the culmination of over 15 years of experience investing in the secondaries market,” said Adam Freda, managing director and head of the secondaries business at 50 South Capital. “Our differentiated approach, focusing on less competitive and more complex segments of the market, enables us to acquire what we believe to be high-quality assets at attractive valuations.  We continue to benefit from our proprietary sourcing ecosystem, developed over close to 25 years of deep manager relationships and institutional knowledge.”

PECF XI is the firm’s eleventh core flagship private equity fund, investing across primary, secondary and co-investment opportunities globally, with a focus on U.S. and European small and middle market buyouts, as well as seed and early-stage venture capital.

“We are proud of the strong support from both returning and new investors in PECF XI,” said Brad Dorchinecz, co-founder of 50 South Capital and managing director of its private equity group. “Our strategy reflects our deep commitment to diversification across geography, vintage, sector and strategy, and our ability to be a value-added limited partner. We leverage the global reach and insights of Northern Trust to remain highly selective and conviction-driven in our investment approach.”

Bob Morgan, co-founder and head of 50 South Capital, added: “The successful closings of PESOF V and PECF XI speak to the strength of our investment platform, the dedication of our team and Northern Trust, and the enduring partnerships we’ve built over nearly 25 years. We are humbled by the continued trust and commitment from our investors.”