Managers

Aksia’s total fees would increase by nearly $1m over the next five-year term.

Newcastle’s strategy draws on managing partner Chris Casgar’s experience at L Catterton and Webster Equity Partners, with a focus on investing in consumer products and services businesses.

'Insight’s performance has been challenged,' said board member and state Treasurer Stacy Garrity. The manager’s failed investment in FTX was also a concern.

We’ll see some firms quietly take a bow, and back off the stage, as it becomes apparent they can attract no more capital. Others will cut targets, and many will have to shrink (at least for a while).

The manager has also increased the number of portfolio companies it intends to target, along with investment sizes.

LP turnover has long been a challenge for many institutions, especially on the public side, as the loss of a veteran leader can disrupt the knowledge and plans of the portfolio built under his or her tenure.

Mid-Cap Fund II, which has a $2bn hard-cap, is expected to hold a second close in late summer, sources told Buyouts.

The process, which is being run without an intermediary, is part of the active secondary market that has seen a strong flow of inventory, but fewer closes.

The European giant’s mid-cap strategy hauled in €2bn in 2020 for its fifth vehicle.

LPs are being quite selective on their commitments, culling their portfolios and shrinking pledge sizes as they contend with overexposure issues and tight liquidity from slowing distributions.