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Fundraising
Some managers are giving away more favourable terms to LPs as it becomes harder to stand out from the crowd, according to a PEI Rainmaker.
The investment arm of Abu Dhabi's second-largest SWF has teamed with SoftBank to raise $400m for venture capital.
The growth markets manager is set to launch a financial services fund and its fifth Africa-focused vehicle.
The fund would invest in senior and subordinated debt along with structured equity and non-control positions in financially troubled companies.
The firm will have a minimum of $3.8bn of equity to invest in Asia along with capital commitments from its global buyout fund.
The turnaround specialist is expected to seek at least €3bn for the vehicle.
The firm has raised £800m for its first fund since its 30-year tenure as manager of the Electra Private Equity portfolio came to an end.
The €70m Fund II will target controlling stakes in small- and mid-cap manufacturing and services companies in Hungary, the Czech Republic and Slovakia.
The firm has called a private meeting in Dubai with shareholders, creditors and advisors to discuss the potential sale of its fund management business.
A shift among LPs to direct investment is ‘more complementary’ than it is damaging, the president and COO said.