Total commitments materially exceed original $750 million target

Darien, Connecticut – March 23, 2023 – Private markets specialist Portfolio Advisors, LLC (“PA”) held a final close on Portfolio Advisors Private Equity Fund XI (“PAPEF XI” or the “Fund”), raising just over $1 billion in limited partner commitments. The Fund was oversubscribed and surpassed its original target of $750 million.

PAPEF XI allows limited partners to customize their allocations across four primary sectors (U.S. mid-market buyout, global buyout, venture capital and special situations) and two opportunistic sectors (secondaries and co-investment). The Fund also offers a model portfolio reflecting PA’s recommendations based on current market conditions.

The Fund was supported by a diverse group of limited partners, including private and public pension plans, university endowments, private foundations, insurance companies, family offices and high net worth individuals. A significant proportion of the Fund’s commitments came from investors who had previously invested in one or more PA-sponsored funds. PA’s previous diversified global private equity commingled fund, PAPEF X, raised $812 million in December 2020.

“We are incredibly grateful for the support we have received from so many of our long-time existing investors as well as several new investors, and we will continue working hard to achieve successful outcomes for all our clients,” said Liz Campbell, Co-Head Primary Investments. “We are excited for what we believe will be an attractive investment landscape, particularly given our team’s track record across economic cycles.”

Greg Garrett, Co-Head Primary Investments, added, “We are thrilled to have capital to put to work in this environment and honored to work on behalf of our clients, who have put their confidence in Portfolio Advisors.”

PA’s active private markets funds have raised more than $21.5 billion in commitments across private equity, private real estate and private credit, in addition to advisory and separate account mandates.

About Portfolio Advisors

Portfolio Advisors, LLC is a middle-market private asset management specialist that builds value for its clients and partners through a variety of investment programs in private equity, private credit and private real estate. The firm’s customized approach to private markets investing has led to high investor retention and broad recognition in the institutional investment consulting arena. Founded in 1994, the firm manages approximately $38.3 billion in assets and is supported globally by over 130 employees in offices across North America, Europe and Asia.

Contacts

Ryan McDougald / Elizabeth Lake

FGS Global

fsinvestments@fgsglobal.com

Liz Campbell

Co-Head Primary Investments

lcampbell@portad.com

203-662-3328

Greg Garrett

Co-Head Primary Investments

ggarrett@portad.com

203-662-3457