HOLLYPORT CAPITAL LLP

Thesis

Hollyport Capital LLP, founded in 2006 and based in London, is a specialist secondary private equity firm with over $11 billion in AUM. Their core strategy involves acquiring mature private equity assets, particularly "tail-end" interests in older funds that have extended beyond their original term. They provide liquidity solutions to investors seeking to realize legacy private equity investments. Hollyport also engages in GP-led fund restructurings, addressing misalignments among stakeholders. Their approach includes deep analysis of realization values and timelines, leveraging experience from over 1,000 fund investments. They aim to deliver returns by purchasing assets at a discount, identifying high-conviction opportunities, accurately assessing cash flows, and utilizing recycled cash flows and leverage. The firm invests between 120% and 140% of a fund's committed capital. While primarily focused on LP interests in the secondary market, they also undertake GP-led restructurings. Hollyport has a notable appetite for Asia-Pacific investments and a sector focus on Biotech/Life Science. Their strategy is characterized as a "buyout" approach within the secondary market. The firm has offices in London and New York and a diverse team of 13 nationalities speaking 19 languages.