Report: Mantra Investment Seeks €250M for Fourth Secondaries Fund

French private equity investor Mantra Investment Partners is aiming to raise €250M (~$257.8M) for its fourth secondaries fund, Secondaries Investor reported January 2, citing private documents.

Mantra Secondary Opportunities IV has a hard cap of €270M (~$278.4M) and is expected to have its final close in 2025. According to a November 2024 document, at least 30% of the fourth fund will be invested in opportunities with economic and social characteristics to help boost general partners' exposure to environment, social and governance (ESG).

The fund's predecessor, Mantra Secondary Opportunities III, closed in 2021 oversubscribed at €180M (~$185.6M) against a €150M (~$154.6M) target. Mantra Investment targets opportunities in the lower end of the fund market, particularly in segments outside of traditional strategies.