Fundraising

Fundraising last year was strong in terms of absolute numbers, but the capital flowed to far fewer firms and funds than in the past.

Through the new fund, Sterling intends to capitalize on sector tailwinds, such as manufacturing onshoring, aging infrastructure and inflation and supply-chain challenges.

Fund 8 is nearly 30 percent larger than its predecessor fund, Fund 7.

The fundraising exceeded the amount raised by Lexington's previous secondary fund LCP IX, which closed on $14 billion in 2020.

Without much capital coming back, LPs are slowing the pace of their commitments and sticking mostly with their deepest relationships.

Leavitt Equity Partners III's limited partners include strategic healthcare partners, insurance companies, foundations and family offices.

PEI caught up with fundraising experts to discuss Asia-Pacific reallocations, tricky re-ups and incentives managers will use to lure investors this year.

Seven Hills Capital Fund I's limited partners include college and university endowments, family offices and outsourced CIOs.

Banner Ridge Secondary Fund V's limited partners include pension funds and family offices.

As part of the transaction, limited partners in Fund IV were provided the option to cash out of their interests in the assets, roll their interests into the continuation fund, or stay in Fund IV at the same terms.