Buyout

Rolled out in September, O2 Investment Partners Fund V is expected to hold a first close before the end of the year, a source told Buyouts.

The private equity business of the asset management arm of German insurer Allianz has grown from €18.5bn in AUM as of end-2020 to around €30bn this year.

'Limited partner distributions are definitely constraining new commitments to subsequent funds,' says private equity director Michael McGirr.

Blackstone Capital Partners IX, launched in 2022, raised $21bn in a final close in this year's first quarter.

The investor in small- to mid-sized businesses outdid its last fundraise target by more than a third.

Many managers will continue to raise continuation vehicles, but others are taking more drastic action to escape the inertia of a stalled market.

'Narrow' lower mid-market investment focus, discipline on fund size, demonstrable DPI history all helped fuel the six-month fundraise, Teleo partner tells Buyouts.

The firm focuses on sectors heavily regulated by governments, in which the government is also the biggest spender.

The German family office holds around €1bn in private market assets, half of which is in private equity, chief investment officer Christian Wiehenkamp tells PEI.