Fundraising

The growth of special purpose acquisition companies could eat into buying opportunities across private equity, venture capital and growth, according to Michael Arougheti.

Fund III appears to be the first offering launched since the 2020 succession, which saw founders Arthur Levine and Lauren Leichtman step back from daily operations.

AG Direct Lending Fund IV, targeting $2bn with a $3bn hard cap, is expected to wrap up in the first quarter.

The manager expects to begin capital raising for the predecessor fund in the second half of 2021 and is also in market with a co-investment vehicle.

Monomoy's latest deal, announced last month, saw it acquire Astro Shapes, a manufacturer of custom-finished aluminum extrusions.

Last year’s results owe in part to GPs and LPs adapting quickly to virtual fundraising, making it possible to wrap up even multi-billion-dollar pools expeditiously.

The firm raised $27.5bn in fresh capital last year, with global credit and investment solutions posting record fundraising years.

The 'vast majority' of Apollo's 1,500 LPs were satisfied with the firm's recent leadership and governance changes, Marc Rowan said on the firm's Q4 earnings call Wednesday.

About one-third of T Capital VI was committed by 11 international LPs, managing partner Koji Sasaki tells Private Equity International.

The asset manager expects to raise multiple successors to its $276m Hamilton Lane Alliance Holdings I, according to the vehicle's chief executive Andrea Kramer.