Fundraising

In the early 2000s, private equity was a niche industry backed by a small group of institutional investors. Roll on two decades and the picture couldn’t be more different, writes Nicholas Neveling.

21 Changemakers: from the partners of Petershill to Dave Swensen, formerly of Yale University.

Fund sizes, LP communications and investor appetite for particular structures are all markedly different from the heady days of pre-crisis fundraising.

The growth and diversification of private equity’s investor base has required GPs to take an increasingly sophisticated approach to securing capital, say MVision’s Mounir Guen and Hussein Khalifa.

Arcline is one of the few newish managers that is braving the challenging fundraising market and is looking for commitments from limited partners.

Fund VII will concentrate on investing in mid-market companies in business services and consumer sectors, relinquishing a prior focus on energy.

The jump to Sheth’s firm, Haveli Investments, comes after Loring’s quick stint at Crosspoint, which lasted just over a year.

The investors include public and corporate pension plans, foundations, and endowments.

Some 252 buyout, growth equity, venture capital and other PE vehicles in North America secured $111bn between July and September, down 20% from the second quarter.

The target marks a significant step-up from prior flagships in the series. If Fund IV succeeds in raising $5bn, it will be 61% larger than the 2019-vintage Fund III.