Fundraising

As larger managers are coming back quicker and with larger funds, early managers are having a harder time finding their way into LPs’ quickly dwindling allocations.

FFL Partners has closed its fifth fund at over $900 million, beating its $750 million target.

Fund X will invest in middle-market companies that have enterprise valuations between $100 million and $500 million.

Tyree & D'Angelo Partners has closed its third fund at a hard cap of $350 million.

AfricInvest has closed its fourth fund at a $411 million.

Advent International GPE X's limited partners include public and private pensions, sovereign wealth funds, endowments and foundations, institutional fund managers, family offices, and high-net worth individuals.

Trivest Fund VII raised $950 million while Trivest Discovery Fund raised $600 million.

The PE manager's GP commitment will account for 10% of Bain Europe VI's total.

Advent International Global Private Equity X found itself on LP 'priority lists' thanks to the strong performance of its predecessors, global co-head of LP services Robert Weaver told PEI.

The firm will be out in a fundraising market that is tilted heavily toward established managers who are raising larger funds and creating new products to take up more LP allocation.