NASHVILLE, Tenn., July 18, 2018 (GLOBE NEWSWIRE) -- Diversified Trust, an independent comprehensive wealth management firm with offices throughout the Southeast and over $6.5 billion of assets under management, today announced the final close of DTC Private Equity VI, L.P. and DTC Private Equity VI-Q, L.P., the firm's sixth private equity fund series. At its close, the Fund’s commitments totaled $155,577,889, including the General Partner’s commitment.
Launched in 2017, this is the largest fund closed to date for Diversified Trust. The PE VI Fund’s total exceeded the firm’s fundraising goal of $150 million. Investors include 200 limited partners consisting of clients and Diversified Trust employees. Including this fund, the Diversified Trust private equity program consists of six funds and a total of $645 million in capital committed since the program’s inception in 2002.
“We are pleased with the results of the Fund’s final close,” said Carol Womack, Principal and Head of Private Equity at Diversified Trust. “The total commitments represent what was truly a firm-wide effort to utilize private equity as a tool to create diversified investment portfolios to help our clients and employees achieve their financial objectives.”
Fund VI represents a continuation of Diversified Trust’s private equity strategy. As with past funds, Fund VI will pursue strategic investments using a multi-manager model with a target allocation of capital to approximately 20-25 private equity and venture capital fund managers. Commitments to managers will span multiple vintage years.
Diversified Trust's private equity program is now in its seventeenth year, and the firm's private equity team of professionals has decades of experience with private equity investing and access to investment managers and specialized funds.
About Diversified Trust
Diversified Trust is a comprehensive wealth management firm with offices in Atlanta, Georgia; Greensboro, North Carolina; Nashville, Tennessee; and Memphis, Tennessee. Diversified Trust is employee-owned with more than $6.5 billion of client assets under management. Its clients include individuals, multi-generational families, family offices, foundations, endowments and retirement plans. For more information on Diversified Trust, please visit diversifiedtrust.com.
CAUTIONARY NOTE: The Fund is not registered under the Investment Company Act of 1940, as amended, in reliance upon an exception thereunder. The offer and sale of the ownership interests in the Fund were not registered under the Securities Act of 1933, as amended, or the securities laws of any state, in reliance upon exemptions from such registration. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any ownership interests in the Fund or any subsequent Fund. Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the amount and source of expected final capital commitments. These statements are not historical facts, but instead represent the Fund’s beliefs regarding future events, many of which by their nature are inherently uncertain and outside of the Fund’s control. The Fund expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Fund’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Media contact:
Sarah Brawner
sarah.brawner@finnpartners.com
615-610-0323