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Cornell Capital raises $850m for third fund

New York-based Cornell Capital, founded by a former vice chair of Goldman Sachs merchant bank, has a target of $2bn for its latest fund.

Blackstone’s Baratta: 20% carry is not under threat

The firm’s global head of private equity Joseph Baratta thinks firms can continue to charge the standard 20% carry as long as they consistently deliver good returns.

L Catterton names first-ever head of London office

Jean-Philippe Barade joins the consumer sector-focused firm as partner from B&B Investment Partners at a time when L Catterton is looking to expand in Europe.

Thoma Bravo closes Fund XII on $7.6bn hard-cap

The fund is yet another Thoma Bravo investment vehicle to reach its hard-cap, and more than doubles the size of Fund XI.

Citco launches automated waterfall calculation tool

The product, Citco Waterfall, launched in Q2 this year to meet demand from GPs, who sought a better method for calculating waterfall payments in a standardised way.

L Catterton partner moves to TPG Growth’s consumer team

Mark Grabowski has left L Catterton after a decade to fill a newly-created role, consumer sector partner, at TPG Growth.

US energy sector still ripe with investment opportunities

Aethon Energy, fresh from its first co-investment with a Canadian pension fund, discusses what’s driving the firm’s energy sector activity

Swander races to $510m final close within five months

The lower mid-market firm closed beyond its $400m target, thanks to its returning LPs.

Former Goldman partner starts as TPG industrial head

Jack Daly joins TPG after a 17-year career at GS, replacing Kevin Burns, who left the PE firm last year to run one of its portfolio companies.

GHIF aims to invest $20m more in health tech by year-end

The $108m Global Health Investment Fund, backed by the Bill and Melinda Gates Foundation, has already deployed half its capital, and aims to be 65% invested by year’s end.