Switzerland’s Pictet Alternative Advisors has closed its latest private equity co-investment vehicle at $1.53 billion, the group said in a statement. Fundraising for Monte Rosa Co-Investments VI exceeded its initial target of $1 billion, and includes two side vehicles of about $50 million each.
The vehicle is some 50% larger than the one before, which closed in May 2023 at $900 million. Monte Rosa Co-Investments V was itself nearly triple the size of the 2020-vintage predecessor.
The latest Fund is focused on buyout transactions, with about 50% in mid-caps, 30% in large-caps, and 20% in smaller funds. There will be a maximum 10% pocket for select investments in growth and venture opportunities.
The vehicle is being deployed over a three-year investment period with a target of as many as 30 deals, mainly in North America and Europe, with about 10% in Asia.
About 40% of the Fund’s committed capital has already been deployed across 14 transactions, Pictet said.
The wealth and asset manager also highlighted that the Fund secured capital from a diversified investor base, including insurance companies, pension funds, family offices, and private clients across Europe, Asia, and North America.
About 12% of the capital has been raised from clients in Asia, which Pictet indicated is in line with prior vintages.
Interest in the Monte Rosa Co-Investments VI indicates growing demand for the strategy and is a reflection of the firm’s track record, Pictet Alternative Advisors’ Global Co-Head of Private Equity Maurizio Arrigo said in the statement.
Arrigo pointed out that Pictet has recorded a multiple on invested capital of 3.1x across 64 realised co-investments.
Over the past 15 years, Pictet has completed more than 210 co-investments, representing $3.2 billion of invested capital.
In May 2023, Pictet also closed its fund-of-funds strategy Monte Rosa VI at $1.6 billion. The vehicle is invested mainly in North American and European buyout funds. Co-investments and secondary transactions were to account for about 20% to 30% of the fund commitment. In a statement at the time, Pictet said the fund will make smaller allocations in Asia, as well as other strategies such as venture capital and growth.
As at December 2025, Pictet Group has some $955 billion in assets under management or custody. Pictet Alternative Advisors manages $54 billion in alternative strategies, with $31 billion in private equity.
Editor’s note: This story has been updated with additional detail from Pictet.
