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Glendower raises one of the largest first-time PE funds

Glendower Capital Secondary Opportunities Fund IV has held a final close on $2.7bn, above its target of $2.5bn, leapfrogging two Chinese GPs to the top spot.
Chart, decline

Hurdle under threat as managers question one-size-fits-all approach

The share of PE firms that removed the hurdle rate doubled in 2019, while only 60% of funds are sticking with the standard 8% preferred return.
Australia

Australia’s next generation of managers

As some of the country’s old guard struggle to navigate leadership transitions, a new wave of managers has emerged.
Tokyo, Japan

SoftBank plots $108bn Vision Fund successor

The Japanese tech giant has received memorandums of understanding from the likes of Microsoft, Apple and Dai-ichi Life Insurance Company.
Paris, France

Eurazeo’s Morgon: ‘We have major ambitions for growth investing’

The firm is targeting €1bn for its third Europe-focused growth fund, which it expects to launch as early as this year.
Performance

KKR prepares for rapid AUM growth

The firm, which is gearing up to launch its three largest funds, expects AUM to ‘compound significantly’ on the back of increased distribution efforts and more mature track records.

Make way, once again, for Blackstone

Can the US manager, its fundraising muscles flexed, establish itself in infra the way it has in other asset classes?
Paris, France

Eurazeo Capital closes fourth fund on €2.5bn target

The firm raised about €700m in third-party capital for Eurazeo Capital IV, with the €1.8bn remainder coming from its balance sheet.

Sun Capital raises $2.3bn for Fund VII – exclusive

The North America- and Western Europe-focused buyout firm, which was targeting $2.2bn, has been in market since July last year.
Panellists at Emerging Manager Connect 2019 said LPs were looking for strong teams, skin in the game and honest dialogue

Four things we learned at Emerging Manager Connect 2019

LPs are looking for strong teams, skin in the game and honest dialogue, delegates heard at sister title Buyouts’ fourth annual gathering devoted to new managers.
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