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Fundraising
In 2018, listed giants Blackstone, Apollo, Carlyle and KKR gave us glimpses of what’s to come.
The firm – a spin out from Bank of America in 2010 – attracted roughly one-third of its $1.65bn Fund III from non-US investors, up from 12% in Fund II.
Lyceum Capital Partners pulled fundraising in January. By October it was back under a new name and with money to spend.
Bain Capital Asia Fund IV received $650m in commitments from the firm's team members and related parties.
Firms with complicated track records have seen the current fundraising bonanza and decided to jump in.
Investors want to see how the firm performs on a deal-by-deal basis before they will consider committing to a blind-pool vehicle, PEI understands.
The firm is understood to be targeting between $15bn and $17.5bn for Fund IX.
The Swiss banking group will seek up to €200m for a vehicle targeting primary fund commitments, directs and secondaries opportunities across private equity, debt and real estate.
Mayfair Equity Partners is eyeing the final close on its second fund after around nine months of fundraising.
The vehicle will be established next year to pursue the same strategy as its $2bn 2017-vintage predecessor, according to New Jersey State Investment Council documents seen by PEI.