Weekend Roundup: Leading Private Equity Fundraising Headlines
In the dynamic world of private equity, several notable fund closures have taken place recently, marking significant milestones for the firms involved. Here's a round-up of some of the most impressive fund closures in the industry.
GTCR's Strategic Growth Fund II (SGF II) Closes at $3.6bn
GTCR, a leading growth-focused investment firm, has announced the successful closure of its Strategic Growth Fund II (SGF II) at $3.6bn. The fund, which surpassed its initial target of $2.75bn, received commitments from a diverse group of limited partners, including pension plans, endowments, sovereign wealth funds, insurance firms, and family offices. GTCR itself contributed an additional $225m to the fund.
The investments made by SGF II are primarily focused on receivables, small business, consumer, and hard assets. With the fund already 45% deployed, it marks a major milestone in GTCR's asset-based finance strategy.
PSG Secures $8bn in Capital Commitments Across Two Funds
Growth equity firm PSG has achieved an impressive feat by securing $8bn in capital commitments across two funds. The firm's sixth North American flagship fund, PSG VI, closed at $6bn, marking a significant increase from its predecessor, PSG V, which raised $4.5bn in 2021. PSG VI's investments are part of a series of tailored mandates and dedicated co-investment vehicles.
In addition, PSG launched a $2bn continuation fund, PSG Sequel, to support six portfolio companies. This fund is expected to bolster PSG's ability to invest in and grow its existing portfolio companies.
Tikehau Capital's Tikehau Special Opportunities III (TSO III) Closes at €1.2bn
Tikehau Capital, a leading European asset management group, has closed the Tikehau Special Opportunities III fund in 2023, raising approximately 1.2 billion euros. The fund, which is the third iteration of its special opportunities strategy, aims to provide attractive risk-adjusted returns to its investors.
The Tikehau Capital fund encompasses various types of investments, such as private equity, real estate, and credit. The investments made by the fund are primarily focused on Europe, with a potential for global opportunities.
Neuberger Berman's NB Specialty Finance Fund III LP Exceeds Its Target
Neuberger Berman, a global investment manager, has closed its NB Specialty Finance Fund III LP at over $1.6bn, exceeding its initial $1bn target. The focus of the fund is on high-yield, short-duration investments.
These fund closures highlight the ongoing confidence in the private equity market and the continued demand for well-structured investment opportunities. As these firms deploy their capital, they are poised to make a significant impact in the industries they invest in, driving growth and innovation.
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