Fundraising

The veteran technology firm is the latest to fundraise amid what is widely seen as a favorable environment for the sector.

Rainier Partners is among a select few first-time funds braving the fundraising markets that lean toward more established managers as LPs look for familiarity.

Brighton Park is not yet ready to wrap up fundraising, a source told Buyouts, adding the inaugural offering has a hard cap of $1bn.

The number of funds that have closed so far in 2020 is down 50% year-on-year while the dollar value of capital raised remains steady, PEI data show.

Thoma Bravo is reportedly seeking $16.5bn for Fund XIV, which, if successful, would be at least 30% larger than its 2018-vintage Fund XIII.

Fund III was targeting $400m, according to a Form D fundraising document filed Oct. 8, which didn’t list how much the pool had raised.

The firm sees an opportunity to offer preferred equity stakes to company owners hesitant to sell in the current market environment.

Shah will oversee Brookfield’s push into new areas, such as insurance and secondaries, which together have a projected long-term value of up to $450 billion.

As GPs revel in the exuberance of a burgeoning investment trend, some limited partners have begun to question potential conflicts around private equity firms raising SPACs.

KKR Asian Fund IV, which has been in market since March, is already 40% larger than its 2017-vintage predecessor.