News

Inovia Growth Fund III held the close this month and will now focus on raising the rest of its $450m target, CEO Chris Arsenault told Buyouts, with a final close expected before the fall.

Fund of funds sales represented the majority of LP transactions by asset managers in 2023, according to a recent full-year 2023 volume report.

In a way, the 'exit' challenge gives emerging firms, smaller buyout shops and even first-timers an advantage over more established GPs.

LPs include Mubadala Investment Co, tech investor Yuri Milner, Bolt Ventures, Boxfish Corp, Ferguson Capital II, Lakefield Enterprises III, NJF Capital Corp and RIT Capital Partners.

Summit is targeting slightly more for Fund XII compared to its predecessor, wrapped up three years ago at $8.35bn.

The Point Investment sale is part of a wave of LP secondaries driving activity in the market this year.

Raymond James, Evercore, Jefferies and Campbell Lutyens are in the wings for the pension fund’s secondary sales route.

Aquiline Financial Services Fund V has over $2.3 billion in capital commitments while Aquiline closed on about $1.1 billion for its continuation fund.

Two intermediaries in the NAV loan market have published surveys on LPs' views of such loans. Plus: why AI could be one of the biggest threats to your firm. Here's today's brief, for our valued subscribers only.

The firm asks GPs to ensure the limited partner advisory committee is consulted on the use of NAV facilities, co-chief executive Juan Delgado-Moreira tells PEI.