---
title: "Funds of Funds: Coverage and Commitments"
description: "Funds of funds that invest in private funds: coverage, mandates and latest commitments on Vestdoor."
url: https://vestdoor.com/investors/funds-of-funds
updated: 2026-11-11
---

# Funds of funds that back fund managers

A fund of funds is an investment vehicle that builds a portfolio of underlying private funds. Coverage, mandates and latest commitments for this type.

[See pricing](https://vestdoor.com/pricing)

## Named investors

Named investors of this type.

| Organisation | Type | Country |
| --- | --- | --- |
| [Proteus](https://proteuscapital.us) | Fund of funds | United States |
| [iCapital Advisors](https://www.icapital.com) | Fund of funds | United States |
| [PineBridge Investments](https://www.pinebridge.com/en) | Fund of funds | United States |
| [Greenspring Associates](https://www.stepstonegroup.com) | Fund of funds | United States |
| [StepStone Group](https://www.stepstonegroup.com) | Fund of funds | United States |

Showing 5 of 40.

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*How they invest*

## How funds of funds allocate

Funds of funds select underlying managers, size commitments and manage the portfolio's vintage, strategy and geography mix.

They are natural buyers for emerging managers because they can diversify the first-fund risk across several GPs.

## Frequently asked questions

### How many funds of funds are in Vestdoor?

Funds of funds are part of Vestdoor's 24,838 investors, including registered vehicles from SEC N-CSR and N-PORT filings.

### Are funds of funds investors?

Yes. A fund of funds commits capital to underlying managers and is therefore an investor in each fund. It is also an investment vehicle with its own investors, so it sits between end investors and the underlying GPs.

### Who invests in a fund of funds?

Pension funds, endowments, family offices and wealth platforms that want diversified exposure to private funds. SEC N-CSR and N-PORT filings disclose the vehicle's holdings.

---

Canonical: https://vestdoor.com/investors/funds-of-funds
Markdown twin: https://vestdoor.com/investors/funds-of-funds.md