Fundraising

The firm reported $6.4bn of realised proceeds in the first quarter, driven by exit activity in its Europe, Asia and US buyout funds, as well as AlpInvest and financial services, according to its earnings results on Thursday.

The growth of secondaries and the realities of the market amid the pandemic have forced more flexibility into the classic PE fund model, according to a survey by Paul, Weiss, Rifkind, Wharton & Garrison.

Fundraising by North American private equity firms in Q1 2021 represented the biggest haul ever, as the market anticipates a post-pandemic recovery.

Buhuo is the latest Chinese GP using secondaries to raise capital from what is perceived to be a more stable LP base than those at home.

Chicago-based private equity firm Valor Equity Partners has closed its fifth fund at $1.7 billion.

Arctos Sports Partners has raised over $1 billion for its inaugural fund, according to an SEC filing.

Iconiq Capital is seeking to raise $3.75 billion for its sixth fund, reported the Wall Street Journal.

PE firms are diversifying away from traditional third-party blind-pool fundraises amid further inflows from long-duration funds, GP stakes, insurance M&A and SPACs.

PEI's editorial team looks at the record $180bn raised for private equity in Q1 2021 and how average fund sizes for private debt funds topped $1bn for the first time during the quarter.