Emerging Managers

The fundraising total includes $460 million in LP commitments and a $180 million GP commitment.

Lightsmith, formed by ex-Siguler Guff executive Jay Koh, pursues growth investments in businesses taking on the challenges created by climate change.

Ascend was founded in 2019 by In Seon Hwang, formerly global head of healthcare at Warburg Pincus, and Richard Park, ex-CEO of Warburg portfolio company CityMD.

First-time fundraising is harder than ever. The first-timers who are attracting capital tend to be those who managed to build up LP relationships, and track records, while at bigger shops.

Arcline is part of a small group of newish managers braving the slow fundraising markets to raise new funds.

Rainier Partners is among a select few first-time funds braving the fundraising markets that lean toward more established managers as LPs look for familiarity.

Brighton Park is not yet ready to wrap up fundraising, a source told Buyouts, adding the inaugural offering has a hard cap of $1bn.

Fund III was targeting $400m, according to a Form D fundraising document filed Oct. 8, which didn’t list how much the pool had raised.

Crosspoint is one of several first-time GPs testing the pandemic-scarred market with new funds.

GHK, led by Gilbert Klemann, launched the fund just as the pandemic kicked off, and has been attracting capital by fundraising remotely.