DP PF Access Fund
The DP PF Access Fund (the “Access Fund”) is a continuously-offered Canadian trust established to provide Canadian investors with exposure to structured secondary private equity strategies offered by Dawson Partners, an institutional, global secondary private equity firm.
The Access Fund provides exposure to the returns of Dawson Portfolio Finance (Lux) SCSp-RAIF, a Luxembourg special limited partnership (société en commandite spéciale) organized as a reserved alternative investment fund (fonds d’investissement alternatif réservé) (the “Master Fund”). Dawson Partners Inc. serves as the portfolio manager and investment manager of the Master Fund.
Founded by former senior members of the Canada Pension Plan Investment Board and the Ontario Teachers Pension Plan, Dawson Partners (formerly Whitehorse Liquidity Partners) is a provider of liquidity solutions for private equity. Dawson – consisting of over 225 professionals headquartered in Toronto, London and New York – invests in seasoned private equity transactions with a diversified group of private equity managers and investors, utilizing structured solutions that provide Dawson’s underlying investors with a lower risk profile than traditional long-only secondary private equity investing. Since its 2025 inception, Dawson has deployed over US$26 bn.
The investment objective of both the Master Fund and consequently the Access Fund is to generate returns principally through long-term capital appreciation and current income. The Master Fund seeks to achieve its investment objective by investing primarily through direct and indirect structured investments in:
- preferred equity and common equity investments in entities that hold portfolios of interests in private investment funds and/or other assets;
- purchases of interests in private investment funds and private companies in secondary market transactions; as well as
- co-investments, primary investments, spin-outs, fund recapitalizations, GP-led transactions and other structured and unstructured transactions, including as a co-investor with other Dawson funds, clients and accounts.
In furtherance of the above, the Master Fund may utilize a broad variety of investment types and transaction structures, as well as a wide range of investment securities.
Why Invest?
- The DP PF Access Fund is an open-ended “evergreen” vehicle that permits investors to invest monthly and redeem quarterly, thereby avoiding (i) the potential inconvenience of managing a series of capital calls and distributions spread out over many years and (ii) long-term lock-ups, both of which are typical features of conventional secondary private equity investing
- Dawson makes use of structured solutions in the secondary market which are designed to provide investors with a lower risk profile than traditional secondary private equity investing
- A reduced-fee “anchor” class of units are available until the earlier of (i) $200M is raised in the Access Fund and (ii) March 31, 2026. The anchor class Management Fee – deducted at the Master Fund level – is 0.75% as compared to 1.25% for the non-anchor class. In addition, the anchor class has no performance fee as compared to 10% over a 5% hurdle for the non-anchor class
- “Distributing” (for investors seeking yield) and “Non-distributing” (for investors seeking to reinvest their gains) units of the Access Fund are available
- Suitable for investors seeking long-term growth who can tolerate medium risk
Fund Details
| Class A | SPA 2700P | ||
| Class AD | SPA 2701P | ||
| Class F | SPA 2702P | ||
| Class FD | SPA 2703P | ||
1 Investors receiving Management and Performance Fee discounts by investing into the “anchor” class prior to the earlier of $200M being raised in the Access Fund and March 31, 2026 (the “Anchor Class Investment Period”) will be entitled to these fee discounts in perpetuity but only on those monies invested during the Anchor Class Investment Period.
