Emerging Managers

Churchill Asset Management has raised about $1.5 billion across two new funds: Churchill Secondary Partners LP and Churchill Co-Investment Partners LP.

Due to “early interest” shown by limited partners, Braemont is expected to increase Fund I's target to $700m from an original $500m, Covington told Buyouts.

Private credit has had less new firm formation than on the buyout side, with new firms focusing on the lower- to mid-market.

MPM Capital has raised $850 million for its second oncology impact fund, beating its $650 million target.

Hildred Capital Management has raised $239.5 million for its second fund, according to an SEC filing.

Ethos Capital is seeking to raise $750 million for its new fund, according to an SEC filing.

Fund I finished 64% above an original target of $350m after only five to six months of marketing, Yuan told Buyouts.

Skylark Private Equity Partners has raised nearly $120 million for its inaugural fund, according to an SEC filing.

New Water Capital Partners is seeking to raise $400 million for its second fund, according to an SEC filing.

First-time fundraising is hard in any market, but made especially more challenging after the pandemic shut down markets, forcing LPs to stick with their established relationships.