Fundraising

Emerging manager fundraising is down in the tough market, with first-time funds globally raising around $25bn last year, compared to $47.6bn in 2022, according to Buyouts data.

Carlyle Renewable & Sustainable Energy Fund II is targeting $1.6bn with a hard-cap of $2bn.

The private equity firm raised $685 million for its third flagship fund, CORE Industrial Partners Fund III and $202 million for its new fund, CORE Industrial Services Fund I.

The closings were 'a significant accomplishment, given the persistent industry headwinds in private equity fundraising', CEO Jon Winkelried says.

The fund secured $2.1bn in Q4, together with more than $400m in sidecar co-investment capital, according to chief financial officer Alan Kirshenbaum.

The fund secured $2.1bn in Q4, CFO Alan Kirshenbaum said in a year-end earnings call, together with more than $400m in side-car co-investment capital.

So how does a new shop raising its debut fund navigate what is widely considered to be the toughest fundraising environment since the global financial crisis, if not ever?

Panellists at affiliate title Private Funds CFO's New York Forum shared tips including the importance being proactive about LP relationships and having cross-team support.

Among the firm's forthcoming initiatives is a Middle East private equity fund, intended to “leverage our deep relationships” in the region, president Connor Teskey said.

The private equity behemoth now holds $902bn in AUM.