Fundraising

KKR Ascendant Fund portcos will incorporate equity ownership plans.

Cortec’s eighth fund has received commitments from LPs that reduced PE pacing plans or see distributions outgaining contributions.

Last November, Fund VI secured $2bn in a first close, $1.5bn of which came from Onex itself. A second closing was expected early this year.

Neuberger Berman led the transaction while Hamilton Lane also made a significant capital commitment.

The firm has made three investments out of the debut fund, including in Sequoia Financial Group.

“Despite macro-economic headwinds…we expect 2023 to be another very strong year for the business overall and for fundraising – on par with 2022, which was a record year,” CEO Bruce Flatt says.

LightBay Fund II's limited partners include state and local pension funds, family offices, foundations, fund of funds, insurers, industry executives and LightBay professionals.

The Presidio-managed continuation vehicle acquired a controlling interest in ElevATE from Presidio Investors Fund II and other shareholders.

Pantheon Credit Opportunities Fund II targets secondary investments in high-quality credit portfolios, primarily in the U.S. and with a focus on downside protection.

The fund is co-led by Carlyle subsidiary AlpInvest Partners and HarbourVest Partners.