Portfolio Advisors Closes Fifth Co-Investment Fund at $622 million

Darien, CT, February 12, 2025 – Private markets specialist Portfolio Advisors, LLC, an affiliate of FS Investments, is pleased to announce the successful closing of PA Co-Investment Fund V (“PCIF V”). The fund held a final closing on January 15, 2025, with total commitments of $622 million, exceeding its $600 million target. PCIF V received support from existing and new investors, which included pension funds, insurance companies, foundations, endowments, family offices and high net worth individuals both in the U.S. and abroad.

Since making its first investment, PCIF V has committed approximately 65% of its capital to 20 portfolio companies. The strategy has remained consistent across all funds in the series: partnering with top-tier private equity sponsors to invest in U.S. mid-market companies undergoing buyout or growth equity transactions.

Adam Clemens and Benjamin Hur lead Portfolio Advisors’ direct equity investment team and have developed a successful track record over the past 17 years, having invested over $1.9 billion in 130+ middle-market companies.

“We are extremely grateful for the show of support from both our existing and new investors, demonstrating strong demand for equity co-investment solutions and exposure to market-leading companies backed by high-quality sponsors,” said Clemens.

“Our successful fundraise is a testament to the strength of the Portfolio Advisors’ co-investment program. We look forward to continuing to deliver attractive risk-adjusted returns to our investors by leveraging our deep sponsor relationships and over a decade of experience in co-investing in the U.S. mid-market,” said Hur.