Fundraising

As of December, the firm had raised three-quarters of the $20bn target for Clayton, Dubilier & Rice Fund XII, sources told Buyouts.

The fund will invest in climate solutions.

The goal is to back treasure assets that sponsors are trying to hold and grow, even when they run up against structural fund issues like tapping out reserve capital.

Linse Capital, founded by former Kleiner Perkins partner Michael Linse, has raised $700m in fresh capital. About $563m of the total will go to Linse Capital Fund I, which will invest in a 'select handful of new companies per year, investing between $100m and $400m in each business over time.'

The Carlyle unit's Atom Fund comes as the firm bids farewell to one of its co-heads and focuses more on credit.

At $3.3bn, Fund VII would be the largest pool in Levine Leichtman’s nearly four-decade history. It would be 32% larger than Fund VI, closed in 2019 at $2.5bn.

Apollo, Blackstone, now Carlyle Group… a confluence of events is leading to a tough year ahead for capital raising.

As of March, Fund III was performing strongly, with a 1.6x net multiple and a 53% net IRR.

As funds hit the market over the next few months, they will likely contend with what some sources have told me is 'LP fatigue.'

The SEC's proposed private funds reforms are also 'influencing' the market, especially around prohibited activities and GP-led deals, says Paul, Weiss partner Marco Masotti.