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Buyouts exclusively revealed that Stone Point is targeting at least $9bn for its 10th fund, the same amount it raised for its ninth fund, which it closed in 2022.

Blue Owl also held a first close of about $600m for a new mid-cap GP stakes fund, $500m of which was seed capital provided by partner Lunate, sources told affiliate title Buyouts.

The system’s private markets chief sees opportunities as lengthier fundraising timelines continue.

Despite strong performance, the small buyout segment is receiving less capital from limited partners. As is usually the case, LPs are content to stick with their deepest relationships in uncertain markets.

In a subdued deal environment, mid-market buyouts are drawing more attention. This perhaps explains why KKR has had success with the debut strategy at a time when fundraising is especially challenging.

New Mexico's surging energy industry gives the state’s second-largest permanent fund more money – and challenges.

The deal is an example of the type of 'clean up' deals routinely run by fund of funds and secondary shops.

The fund is among several that are bringing capital into a small and emerging manager ecosystem that is seeing a general reduction of capital flows.