50 South Capital Advisors, LLC, the alternatives investment arm of Northern Trust Asset Management, has closed two of its flagship private equity funds with over $2 billion in total commitments—both surpassing their original fundraising targets. The Private Equity Strategic Opportunities Fund V (PESOF V) raised $1.2 billion, while the Private Equity Core Fund XI (PECF XI) closed with $893 million, attracting a wide range of investors including institutions, family offices, wealth managers, and consultants.
PESOF V marks the firm’s fifth secondary-focused fund, continuing its multi-strategy approach by targeting LP-led transactions, GP-led continuation vehicles, and structured equity opportunities. Adam Freda, managing director and head of secondaries, highlighted the firm’s focus on complex, less competitive segments of the market and its ability to access high-quality deals through a proprietary sourcing network developed over decades.
PECF XI, the eleventh core fund in the series, will deploy capital across primary, secondary, and co-investment opportunities globally—primarily within U.S. and European small/mid-market buyouts and early-stage venture capital. Co-founder Brad Dorchinecz emphasized the fund’s diversified, conviction-based strategy and its advantage in leveraging Northern Trust’s global network.
Bob Morgan, co-founder and head of 50 South Capital, credited the successful closings to strong investor relationships and the depth of the firm’s platform, noting nearly 25 years of consistent execution and trust from partners.
Source: Northern Trust
