Fundraising

Barings, Kline Hill Partners and Adams Street Partners were the fund's co-lead investors.

The European tech investor closed on €1.1bn for Verdane Edda III, which makes minority and majority investments in single companies.

As a result of this closing, Horizon Capital now has $1.6 billion assets under management.

With a $5bn target, Fund II is set to be almost 67% larger than HIG’s debut vehicle for the Advantage strategy.

While GP-led inventory is high, capital chasing such deals remains limited to a small universe of buyers. Private equity firms like Leonard Green have seen opportunities to move into the under-capitalized space.

Asia VI is 50 percent larger than its predecessor, CVC Capital Partners Asia V, which was raised in 2020 and closed at $4.5 billion.

Ballast is led by managing partner Jon Popielarski, a former director of private assets at Employees’ Retirement System of Rhode Island.

The fund's limited partners include endowments, foundations, insurance companies and family offices.

Tokyo-based Basic Capital Management is back in the market for its latest strategy after a nearly four-year hiatus since its last flagship.

Fundraising is slow and especially so for emerging managers, who have seen their share of the private equity capital share fall precipitously over the past two years.