Managers

While GP-led deals took the biggest slice of market activity in 2022, LP deals, especially in the second half, started flowing back into the market.

Primed by a vigorous deal environment, tech PE fundraising rose to dizzying heights in 2021, with 474 North American vehicles collecting an all-time high of $227bn, according to Buyouts data.

The firm is the latest in a slew of shops launched by former Golden Gate executives over the past few years.

Proposals for a new UK exchange that would allow privately held businesses to list and trade their shares on a periodic basis could have exciting implications for retail investors and DC pension schemes alike.

The amount raised provides Fund IV with just under half of its $4.5bn target, reported last year by affiliate Buyouts.

The Swedish giant’s latest vehicle will add to the roughly $150bn being sought by firms including Carlyle, Thoma Bravo and Advent.

Ten Coves had planned to launch its first independent fund in 2020, but had to delay plans and focus on its existing portfolios in the pandemic.

The software and services specialist is seeking more than $14bn across Hg Genesis 10 and Hg Saturn 3, investor documents show.

The 10 largest funds, including Hellman & Friedman Capital Partners X and Clayton, Dubilier & Rice Fund XI, gathered nearly $150bn between them and accounted for one-fifth of fundraising last year.

PEI caught up with Eastern Bell partner Daniel Sun to discuss how the growth equity firm was able to exceed its fundraising target against such an unfavourable backdrop.