Who raised the largest funds in June?

Advent International’s $17.5 billion haul for GPE IX was the largest fund to close in June. Raised in just six months, GPE IX is also the seventh biggest fund since the global financial crisis.

More than 90 percent of the LPs in the fund are repeat investors. GPE IX is about 35 percent larger than its predecessor, the 2015-vintage, $13 billion Advent International GPE VIII.

Warburg Pincus raised the second largest fund last month. It collected $4.25 billion against a $3.5 billion target for Warburg Pincus China-SEA II, a companion vehicle to its $14.8 billion Warburg Pincus Global Growth fund that closed late last year. The fund will invest in companies that focus on consumer and services, healthcare, real estate, financial services and TMT. It has no hurdle rate, according to documents prepared for the New Jersey State Investment Council.

Gryphon Investors’ fifth buyout fund closed on its $2.1 billion hard-cap and was June’s third-biggest vehicle. The San Francisco-based firm began raising capital in 2017 and exceeded its $1.5 billion initial target. Fund V is also $1 billion larger than its 2015-vintage, $1.1 billion predecessor. Target sectors are business services, consumer products and services, healthcare, industrials and software.

Adams Street Partners’ held a $2 billion final close on Global Secondary Fund 6. The Chicago-headquartered fund of funds manager raised $1.05 billion for the main fund and the remainder in separately managed accounts. The fund will acquire fund interests and invest in direct secondaries and GP-led transactions.

Tied in fifth place are Hamilton Lane and US mid-market firm Arlington Capital Partners, which both raised $1.7 billion.