CVC is leading Montagu’s latest ~$500 million single-asset fund, which will house a US medical device manufacturer, according to PEI Secondaries Investor. Golub Capital is also investing in the continuation vehicle (CV) backing the asset. The fund represents a targeted secondaries play focused on a single high-quality holding in the healthcare sector.
Montagu, a European private equity firm, is structuring the CV to provide liquidity to existing investors while maintaining exposure to the underlying business. The deal reflects growing LP interest in GP-led continuation vehicles as a flexible exit strategy. CVC’s involvement signals confidence in the asset’s long-term value and operational stability.
The medical device manufacturer, though unnamed, is based in the United States and operates in a defensible niche within the healthcare industry. Such single-asset CVs allow GPs to extend hold periods and optimize value realization. The transaction underscores the evolving sophistication of the secondaries market, where tailored solutions are increasingly used to address complex portfolio needs.
PEI Secondaries Investor reported the development based on exclusive sources close to the deal. The fund size of approximately $500 million positions it as a meaningful mid-market continuation vehicle. This structure enables Montagu to manage the asset independently while aligning interests with new and existing stakeholders.
Source: Secondaries Investor · Summarized by HeadlinesBriefing