Fundraising

PE firms will not struggle en masse to raise successor funds. However, it will become clear who has a strategy and who does not.

Fortress Lending Fund III has so far collected nearly $1.3bn and is expected to wrap up later this year.

RCP V's limited partners include banks, insurance companies, funds of funds, foundations and individuals, such as executives and board members from prior RCP portfolio companies.

KKR Asset-Based Finance Partners will back credit investments that are backed by large and diversified pools of financial and hard assets, with attractive risk-adjusted returns.

The firm, like other first-timers in the market, is raising a fund at a time of slowing fundraising and LP hesitancy to back new teams as they stick with their established relationships.

This amount included approximately $500 million in commitments from the general partner and affiliated entities.

The firm's seventh flagship fund Francisco Partners VIII LP raised $13.5 billion while Francisco Partners Agility III LP took in $3.3 billion.

The firm gathered €1.5bn for its fund dedicated to the strategy, which will mainly target platform acquisitions in mid-market Europe.

During a recession, private equity mega-funds deliver returns similar to those of their peers and with less selection risk for investors.

Crossplane Capital Fund II will back lower middle market industrial companies.