Fundraising

Portfolio Advisors has raised over $2.45 billion for its fourth secondary fund, according to an SEC filing.

Fundraising, deals and exits as of the third quarter are at record levels, the alternatives giant reported on its latest earnings call.

Nautic Partners has closed its tenth fund at a hard cap of $3 billion.

Nearly $361bn was raised by 617 buyout, growth equity, venture capital and other PE funds at the end of September. In dollar terms, this surpasses activity in the first three quarters of all previous years.

Japan’s regional banks have been expected to be a key source of secondaries dealflow after piling into alternatives over the past decade.

Fund V is expected to hold a third close in November, bringing potential commitments to more than $543m.

The lower mid-market has not traditionally generated much GP-led secondaries activity, but the market has expanded as new firms raise funds and GPs seek to find ways to generate liquidity on older assets.

Ridgemont Equity Partners is seeking to raise $2 billion for its fourth fund, according to an SEC filing.

Glenfield Capital, an Atlanta-based private real estate investment firm, has launched $150 million equity fund that targets office buildings in the Southeast and Midwest.

Stonecourt Capital has raised over $282.3 million for its fourth fund, according to an SEC filing.