Winchester has specialised in the direct sourcing and acquisition of secondary private equity and venture capital portfolios. The secondary market represents an alternative exit path for limited partners seeking the benefit of immediate liquidity. In 2005, over $5.5 billion in new capital was raised for secondary investments.
Winchester Capital entered the secondary market with the successful completion of the Atlantic Medical portfolio in 2004 in conjunction with Nova Capital Management Limited. This portfolio included five underlying companies in the healthcare sector.
This was followed by the acquisition of the Dresdner Bank IRU Private Equity Portfolio acquired in 2006 by our client, AIG. This transaction, representing one of the largest secondary transactions in history, included approximately 155 limited partnership interests and due diligence on nearly 1,800 companies. Winchester subsequently acquired its remaining portfolio interests in Winchester Capital Healthcare Partners from Dresdner Kleinwort Wasserstein in 2006.
