UBS Private Equity (Lux) Evergreen Secondary Fund

PRVTLEP LX

Overview Strategy Performance Allocations Key terms Share classes FAQ

Overview

Legal Name:

Private Equity (Lux) Evergreen Secondary Fund

Manager:

UBS Asset Management

Website:

https://www.ubs.com/global/en/assetmanagement/about.html

Fundraising Status:

Open

Domicile:

Luxembourg

Legal Form:

Lux SICAV (S.A.)

Regulatory Regimes:

Lux UCI (Part II), EU AIF

Term:

Perpetual-Life

Base Currency:

EUR

Launch Year:

2022

Inception Date:

Nov 30, 2022

Target Net Return:

net IRR 12%

Size:

$302.8M (as of Dec 31, 2025)

No. of Investments:

38 (as of Mar 31, 2025)

Administrator:

Northern Trust Global Services SE

Investor Eligibility Segments:

Institutional, Professional / Accredited, Retail

Permitted Distribution Countries:

Austria, Belgium, Bulgaria, Croatia, Cyprus

Strategy

PE (Lux) Evergreen Secondary Fund invests in globally diversified, mature private equity assets, primarily via secondary acquisitions of interests in non‑listed funds and continuation vehicles. The semi‑liquid structure targets buyout and growth capital exposure across middle‑market companies and select venture, with emphasis on Financials, Healthcare and Information Technology. A smaller sleeve commits to primary funds and executes co‑investments alongside leading GPs to complement secondaries and enhance diversification.

Asset Classes:

Private Equity

Strategy:

Buyout (PE), Growth Equity (PE)

Underlying Investment Type:

Secondaries

Geographic Focus Region:

Global

Geographic Focus:

North America, Eurozone, APAC

Sector Focus (GICS):

Information Technology, Health Care, Financials

Sector Focus (not standardized):

Healthcare, Information Technology (software, IT services, IT hardware), Financial & other services / Financial services, Consumer, Industrial / Industrial products and services

Leverage Limits Summary:

May borrow up to 30% of NAV; AIFMD leverage capped at 235% gross and 185% commitment exposure.

Investment Limits Summary:

At least 70% in Target Funds; max 50% non-Secondaries; max 20% per issuer; max 20% in Other Investments.

Performance

for P-acc (EUR) share class

Total Returns (% Net of Fees)

Net returns (since inception)	P-acc (EUR)
Total Return	19.3%
Annualized Return	8.5%
Best Month	(Dec 2024)2.4%
Worst Month	(Apr 2025)-1.9%
Risk metrics (since inception)
Volatility	3.7%
Sharpe Ratio (4.3% risk-free)	1.13

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Key terms

for P-acc (EUR) share class

Share Class

Minimum Subsribtion:

€50,000

Currency:

EUR

Inception Date:

Sep 30, 2023

Distribution Type:

Accumulating

Investor Type:

Retail

ISIN:

LU2459535261

BBG Ticker:

PRVTLEP LX

Liquidity

Gate:

5% of share class NAV per quarter.

Gate Level:

Share class level NAV

Redemption Frequency:

Quarterly

Redemption Basis:

NAV per Share on quarter-end NAV

Subscribtion Frequency:

Monthly

Subscribtion Basis:

NAV per Share on month-end NAV

Fees

Management Fee:

2.00%

Management Fee Basis:

NAV + unfunded commitments

Performance Fee:

10.00%

8% p.a. non-cumulative hurdle on starting Fair Market Value; full catch-up; monthly accrual; quarterly crystallisation with HWM, loss carryforward and Liquidity Test.

Performance Fee Basis:

Change in NAV, Distributions

On Monthly Portfolio Return (all Proceeds plus change in Fair Market Value minus fees/expenses; before subscriptions/redemptions and Performance Fee accrual; loss carryforward of prior losses).

Hurdle rate:

8.00%

8% annualized on beginning-of-period Fair Market Value; non-cumulative; resets each period; pro-rated for partial periods

Catch-up:

100.00%

100% of Excess Profits above Preferred Return and Loss Carryforward until manager has 1/9 of Preferred Return; thereafter 10%

Front load (subscription):

5.00%

During Initial Offer Period; 5% initial sale charge on subscription price; levied at Board discretion.

Back load (redemption):

5.00%

If redeemed within 12 months; up to 2% thereafter.

Servicing fee:

0.00%

Distributor fees paid by the portfolio manager out of the management fee.

Management Fee:	2.00%
Management Fee Basis:	NAV + unfunded commitments
Performance Fee:	10.00%	8% p.a. non-cumulative hurdle on starting Fair Market Value; full catch-up; monthly accrual; quarterly crystallisation with HWM, loss carryforward and Liquidity Test.
Performance Fee Basis:	Change in NAV, Distributions	On Monthly Portfolio Return (all Proceeds plus change in Fair Market Value minus fees/expenses; before subscriptions/redemptions and Performance Fee accrual; loss carryforward of prior losses).
Hurdle rate:	8.00%	8% annualized on beginning-of-period Fair Market Value; non-cumulative; resets each period; pro-rated for partial periods
Catch-up:	100.00%	100% of Excess Profits above Preferred Return and Loss Carryforward until manager has 1/9 of Preferred Return; thereafter 10%
Front load (subscription):	5.00%	During Initial Offer Period; 5% initial sale charge on subscription price; levied at Board discretion.
Back load (redemption):	5.00%	If redeemed within 12 months; up to 2% thereafter.
Servicing fee:	0.00%	Distributor fees paid by the portfolio manager out of the management fee.

Share classes

Name	Min. Subscription	Currency	Inception	Distribution	Investor Type	ISIN	BBG Ticker
P-acc (EUR)	50,000 EUR	EUR	2023-09-30	Accumulating	Retail	LU2459535261	PRVTLEP LX
Class B eg	250,000 EUR	EUR	15 Mar 2018	Accumulating	Institutional	LU1987654321	FUND B LX
Class C Example	500,000 USD	USD	01 Jun 2019	Distributing	Professional	IE0123456789	FUND C ID
Class D eg.	100,000 GBP	GBP	22 Sep 2020	Accumulating	Institutional	GB00ABCDEF12	FUND D LN
Class E Example	25,000 EUR	EUR	03 Jan 2021	Distributing	Retail	LU9988776655	FUND E LX
Class F Example	1,000,000 USD	USD	10 Nov 2017	Accumulating	Institutional	US1234567890	FUND F US

FAQ

What is UBS Private Equity (Lux) Evergreen Secondary Fund?

UBS Private Equity (Lux) Evergreen Secondary Fund is an evergreen Lux UCI fund focused on Private Equity and managed by UBS Asset Management.

Who manages UBS Private Equity (Lux) Evergreen Secondary Fund?

UBS Private Equity (Lux) Evergreen Secondary Fund is managed by UBS Asset Management, based in Zurich, Switzerland.

How big is UBS Private Equity (Lux) Evergreen Secondary Fund?

UBS Private Equity (Lux) Evergreen Secondary Fund has a size of $302.8M.

What type of fund is UBS Private Equity (Lux) Evergreen Secondary Fund?

UBS Private Equity (Lux) Evergreen Secondary Fund is an open-ended / evergreen Lux UCI fund investing in private equity and domiciled in Luxembourg.

When was UBS Private Equity (Lux) Evergreen Secondary Fund launched?

UBS Private Equity (Lux) Evergreen Secondary Fund was launched on Nov 30, 2022 and is structured as a Lux SICAV (S.A.) vehicle with a perpetual-life term.

Where is UBS Private Equity (Lux) Evergreen Secondary Fund domiciled and regulated?

UBS Private Equity (Lux) Evergreen Secondary Fund is domiciled in Luxembourg under Lux UCI (Part II) and EU AIF.

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