Emerging Managers

The Washington, DC, manager was expected to hold Fund II’s initial close in the first quarter, according to pension documents.

Altair Industries is raising its debut fund. The firm is led by two former Stellex Capital Management executives, who left the firm last September.

The firm held a 'record' first close for WestCap Strategic Operator Fund III during Q4 2025, sources tell Buyouts, backed by a mix of new and existing LPs.

In this podcast, industry experts unpack what LPs are looking for today from their emerging managers, common mistakes by first time funds, and how newcomers can stand out.

Orchard co-founder Scott Pasquini thinks the continuation vehicle market could grow as much as four times its current size, as GPs look to unshackle themselves from the timeline constraints of closed-end fund structures, he tells Buyouts.

Founder and managing partner Rob Wolfson set up Aphias last year to make control investments in lower mid-market companies in healthcare services and essential services sectors.

From a bird’s eye view, US emerging managers seem to be enjoying an early spring. But if the market for new players is coming up roses, LPs don’t seem to smell it, results of Buyouts’ Emerging Managers Survey 2026 suggest.

Market conditions continue to hamper fundraising for many new managers, but notable exceptions are pushing through.

Talent is a core ingredient of fundraising and future deal-making success.

New GPs negotiating terms need a balance between attracting capital and protecting the economics of the nascent fund.