Turnstone’s maiden fund had its first closing at around NOK 1bn on March 20th following a six week fundraising period. We are pleased and thankful for the strong backing we have received from our first closing investors.
The fund will execute on Turnstone’s core strategies including LP-led secondaries, GP-led secondaries, Co-investments and select primary commitments across Western Europe.
We expect this vintage to benefit from a market environment characterized by increased supply and more favourable entry pricing, as investors seek alternative routes to liquidity and private equity managers fundraise for longer.
Turnstone has been well received in the market, reviewing close to 200 deal opportunities to date. We are grateful for the strong support received by our relationships across the European private equity industry and look forward to doing business with many of you as we execute on plan!