Mid-market

The mid-market buyout firm closed on its $2.37 billion raise – slightly short of its target – after a more-than two-year marketing effort.

MiddleGround’s 'entrepreneurial' vibe allowed Christen Paras to embrace increasing responsibility, and eventually lead six teams. Passionate about female empowerment, she's a sponsor of the firm's Women’s Wing, which backs charities for abused and homeless women and children.

The majority of the firm’s LPs are individuals with leadership positions at successful businesses in Lead Edge’s target investment areas, a managing partner tells Buyouts.

The ecosystem for emerging manager fundraising has expanded over the years, with groups like Churchill Asset Management playing a significant role in helping support new firm formation.

The fund had set a target of $4.25bn in the fourth quarter of last year.

Siguler Guff Small Buyout Opportunities Fund VI had as of December secured $1.67bn, or more than three-quarters of its target, according to Form D filings.

The fund will be deployed towards primaries, secondaries and co-investments across lower mid-market private equity.

Many GPs have been seeking ways to sort out assets lodged in older funds, with limited partners increasingly seeking liquidity.

Across private equity and other private assets, there are arguments for optimism, caution and a mix of the two in these brief insights from some high-level sources in the LP orbit.

Aksia believes the fund’s legacy GP relationships are burdening the pension’s administrative capabilities and could 'lead to return compression over time.'