Portfolio Advisors closes secondary fund at $1.1 billion

DARIEN, CT – November 2009 – Portfolio Advisors, LLC (“PA”) announces the final closing of its first dedicated secondary fund, Portfolio Advisors Secondary Fund, L.P. (“PASF”), at a total size of $1.1 billion. Limited partners include private and public pension plans, university endowments, private foundations, insurance companies, family offices and high net worth individuals.

Portfolio Advisors Secondary Fund PASF is a dedicated secondary fund sponsored by Portfolio Advisors. PA has extensive experience in both evaluating and investing in secondary private equity and private real estate opportunities. Portfolio Advisors began purchasing select individual and pools of secondary interests in funds in 2003 on behalf of its fund-of-funds vehicles and certain advisory clients. Since 2003, PA has completed approximately $1 billion of secondary transactions involving over 300 underlying partnerships. PASF held its initial closing in early 2008.

About Portfolio Advisors

Portfolio Advisors, LLC is an independent, employee-owned firm that provides a full range of private equity investment advisory and portfolio management services to sophisticated investors.