Fundraising

New State Capital Partners has closed its third fund at a hard cap of $450 million.

The advisory firm looks to bolster its ranks in a competitive skilled labour pool in key sectors and geographies to capitalise on continued covid recovery momentum.

Maverix's $500m debut tech growth equity fund, recently anchored by five institutional LPs, is now heading for a $350m initial close in June.

From relationship-building to staying nimble, the 2021 class of future leaders share their tips for forging a career in private equity.

LPs have flocked to the safety of mega-managers throughout the pandemic, yet the long-term implications of a shifting fundraising model are more nuanced.

Challenges could arise with public institutions like pensions, where investment staff answers to politically appointed CIOs and elected boards, and ultimately, the state Treasurer.

With so much competition for deals and investors, mid-market buyout funds are finding innovative ways to differentiate their offerings, say Baker McKenzie’s Justin Hutchinson and Alex Lewis.

Fundraising is poised to set new records as private equity firms branch out from buyouts to strategies such as secondaries and growth investing.

Ares Management Corporation has closed its fifth European direct lending fund at a hard cap of 11 billion euros, beating its target of 9 billion euros.