News

First-time and emerging manager fundraising has slowed greatly in the tougher fundraising market, with limited partners choosing to mostly stick with their deepest relationships.

The system is a new entrant into private equity.

The firm raised $180m and has already made two investments, says founding partner Eric Elalouf.

The system sees possible 'J-curve effect' challenges ahead as it builds its PE program.

While activity on the GP-led side has been slower, several large deals have gotten done with buyers choosing to work with high-quality assets managed by firms they know well.

Megafunds raised between Q1-Q3 this year include vehicles by CVC Capital Partners, Apollo, Permira and Warburg Pincus.

The system also will explore relationships with new managers.

Jonathan Gray’s contention, that discounts on LP portfolios could increase, runs contrary to the trend this year of strengthening pricing.

'The rules overall are a step forward for the industry but there are some unique intricacies to look at regarding the transparencies we are used to,' says a member of the system’s investment staff.

BDT Capital Partners Fund IV, already 43% bigger than its predecessor, is expected to wrap up this month, sources told Buyouts.