Fundraising

While fundraising timelines have stretched, the percentage of funds to have exceeded their target at final close is at its highest level since 2008.

Amulet Capital Fund III's limited partners include state and corporate pension funds, endowments, foundations and family offices.

An uptick in the number of funds closing above target belies the fundraising challenges facing a swathe of the industry.

Fundraising has recovered in terms of the amount raised, but capital is mostly flowing to top firms, to the detriment of everyone else.

Agellus Capital Private Equity Fund I will invest in the business-to-business, non-discretionary consumer, and supply chain and infrastructure services markets.

NewSpring Mezzanine Capital V will target lower-middle market companies in need of flexible financing.

Metier Capital Growth Fund III's investors include international development finance institutions and South African financial institutions.

Bregal Sagemount Basecamp I's limited partners include institutional investors.

The firm hopes to surpass the size of its previous secondaries flagship, which closed on $22.2bn in 2023.

It could be '12 to 18 months out' before deal and exit volumes reach the levels necessary to support improved fundraising conditions, HarbourVest managing director Scott Voss told Buyouts.