Carmela Mendoza
Carmela Mendoza is a senior reporter for Private Equity International based in London. She first joined PEI in Hong Kong in 2015 and covered Asia. A graduate of Ateneo de Manila University, she previously worked for a digital agency in Singapore focused on government websites and publications covering business, trade and industry, transport, and social development.
The share of PE firms that removed the hurdle rate doubled in 2019, while only 60% of funds are sticking with the standard 8% preferred return.
The firm is targeting €1bn for its third Europe-focused growth fund, which it expects to launch as early as this year.
The firm raised about €700m in third-party capital for Eurazeo Capital IV, with the €1.8bn remainder coming from its balance sheet.
International GPs backed more than 80% of deals by volume in first half of 2019, according to a report from industry association ASCRI.
The lower mid-market firm closed on its €260m hard-cap for its fifth fund after less than two months on the fundraising trail.
The private equity giant's second long-life vehicle is targeting up to a dozen deals with at least €1bn of co-investments.
The final close of Strategic Opportunities II comes amid increased appetite for long-term vehicles.
The US manager, which has yet to hold official final closes on its eighth flagship fund and fourth strategic growth fund, is also in market with a Europe growth vehicle.
Growth funds had a 73% increase in capital raised with more than $50bn amassed in the first half of this year, according to PEI data.
The firm is in market with its latest direct vehicle for private equity and expects to launch dedicated direct funds for real estate and debt within the year.