Fundraising

TPG’s growth platform was a focus of capital raising in 2021. It collected $4.9bn in all, much of it accounted for by the close of TPG Growth V at $3.6bn, above a $3.5bn target.

The new venture, named Twelve Degrees, will back about three North American lower mid-market firms per year.

Coral Tree Partners closed its debut fund recently on $450m, beating its original target and even its cap.

Based in Baltimore, Savano invests in late-stage technology and service companies.

Fifteen funds exceeded their targets by 23% on average, with General Atlantic and Blackstone achieving the highest disparity.

In the first of our new series of conversations with investor relations professionals, we catch up with BC Partners' global head of IR to chat about the next big sources of LP capital and why the industry needs a better way to compare GPs.

The fund's limited partners include foundations, endowments, family offices, pensions, corporations, registered investment advisors and consultants.

The lead investor was HarbourVest Partners LP.

First-timers successfully attracting capital generally are those formed by executives from larger shops, who have relationships with investors, and who have targeted strategies that fulfill a need in investors’ portfolios.

The fund comes almost exactly a year after the closing of Brightstar’s second flagship vehicle. Originally targeted to bring in $1bn, Fund II wrapped up at its $1.27 bn hard-cap.