Fundraising

Fund V will focus on small and lower-middle market companies, with less than $200 million in annual revenues and less than $20 million of annual EBITDA.

'We are currently seeing strong support from both existing and new institutional investors, especially from outside the United States,' co-president Jim Zelter said in the Q2 earnings call.

The fundraising is in connection with the partial sale of ACON's investment in New Era Cap as well as increasing its existing ownership stake.

If it reaches its $2.1bn cap, Fund VI will easily be EagleTree’s largest vehicle to date, almost twice the size of its predecessor, closed two years ago.

The fund's limited partners include public and corporate pension plans, banks, insurance companies, global asset managers, foundations, and large family offices.

The fund's LPs include corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices.

HighPost was established in 2019 by David Moross, a veteran of PE investing in the consumer sector, and Mark Bezos, brother of Amazon founder Jeff Bezos and a former consumer brand developer.

The firm's other flagship PE offering, Ares Special Opportunities Fund II, remains in the market after its hard-cap was bumped up to $7.1bn from $6.1bn.

Fund II will invest in North American healthcare service companies.

Fundraising in the first half of 2022 fell, yet both the number of funds seeking to raise capital and the volume of capital they are targeting have hit a record.