Managers

Big step-ups in the firm's recent fund sizes may be due to greater LP appetite for co-investing as a way to build private equity exposure on a no-fee, no-carried interest basis.

Documents prepared for a US pension shed light on the performance of the firm's growth funds as it seeks $9bn for its 12th vintage.

Despite the increased target, the pension system's private equity allocation remains overweight by 1.8%.

The new flagship offering's target size is 12% larger than Fund IX, which closed in 2021 on $5.6bn.

Mekong Enterprise Fund IV is nearing full deployment across a diverse range of investments, including in the regenerative agriculture space through biochar fertiliser company Husk.

The transaction has been backed by capital from long-term yield-oriented institutions and not traditional secondaries firms, PEI understands.

Combining Dover Street XI and its co-investment vehicle Secondary Overflow Fund V, the manager has raised $18.5bn to deploy into secondaries deals.

The target amount sought for Long Term Private Capital II could change, Private Equity International understands.

TPG Partners X is expected to roll out in the first half of 2025, while Apollo Investment Fund XI is expected to debut by the end of next year.

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