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Earlier this year, Sycamore took over Chico’s FAS in a $1bn deal, which the firm planned to merge into its KnitWell Group platform that includes other brands like Ann Taylor and Talbots.

The firm expects to see an acceleration in the number of private wealth platforms in H1 2024, according to its Q4 2023 earnings call.

A total of $559bn was raised by buyout, growth equity, secondaries, venture capital and other funds last year, down 9% from the $611bn secured in 2022. Fund closings dropped more significantly, down 17%.

The fund's limited partners include endowments, foundations, pensions, insurers, fund of funds, family offices, and 3BC professionals.

Fund VII's limited partners include insurance companies, pension funds, endowments, foundations, consultants, funds of funds, and family offices.

KSL anticipates organic EBITDA growth in the high single to low double-digit range.

LPs who are taking their time to assess which GPs to commit to should remain aware that the pool of competing investor capital is slowly growing. Plus: why the FBI has your back. Here's today's brief, for our valued subscribers only.

Though investors seem increasingly drawn to the market's favourable demographic tailwinds, DPI, exit routes and GP selection remain key considerations for potential entrants.

Private equity fundraising fell for the second year in a row last year, with the number of funds closed almost matching the number seen in 2017.