Fundraising

Also, Sound Point Direct Lending closed on a separately managed account that is expected to grow to more than $500 million.

The fund has already surpassed its €1.38bn predecessor, which closed ahead of its €1.35bn target in 2019, Private Equity International has learned.

To date, the fund has invested about 45 percent of the capital raised.

The fundraising represents a 60 percent increase on Castik's previous fund that closed at €1.25 billion in October 2020.

Five Point is focused on building sustainable infrastructure.

As part of the process, the firm is letting go of some staff, including managing directors Helen Chiang and Loren Easton, who have moved into senior adviser roles.

Fund II has both domestic and offshore structures, meaning the total amount sought could be even larger.

Capital Solutions Founders Fund launched in 2023.

The investor base includes leading pension fund investors.