- Thirteen emerging PE funds raised more than $4.9 bln from July 3 to July 16
- Third-largest haul of the year
- Searchlight Capital raised over $2.75 bln, the most of this period
Despite slowing their pace, emerging managers had a consecutively strong fundraising period. Thirteen private equity funds hauled in more than $4.9 billion from July 3 through July 16, Buyouts data shows. The windfall is the third-largest pulled by emerging PE managers this year.
Searchlight Capital led the charge with its third flagship. The New York City-based firm raised more than $2.75 billion from 122 investors through two vehicles, according to SEC filings. Earlier this year, Buyouts reported that the fund would have a $3.25 hard cap.
Searchlight was formed by Eric Zinterhofer, former co-head of media and telecom at Apollo; Oliver Haarmann, a former partner at KKR; and Erol Uzumeri, who formerly led the private equity business at Ontario Teachers’ Pension Plan.
OrbiMed Healthcare Fund Management pulled in the second-highest amount. Its third Royalty and Credit opportunities fund raised more than $889 million from 69 investors, according to an SEC filing. The fund has a target of $1.2 billion.
At third was Pacific Private Money, raised about $700 million from 12 investors through three funds in the market, according to SEC filings. Its third private equity opportunities fund raised more than $410 million, its third private credit fund raised more than $250 million; and its third feeder fund raised over $39 million.
Below is a rundown of the most significant emerging private equity funds that Buyouts Insider has identified as being in the market over the past few weeks:
Blue Sage Capital
- Fund name: Blue Sage Capital III, L.P.
- Focus: Growth, recapitalization and buyout financings of small middle-market companies.
- Amount raised: $198.2 mln
- Target: N/A
- Location: Austin, TX
- Phone: +1 512-536-1900
- Filing: https://bit.ly/2O9o2v0
Bookend Capital Partners
- Fund name: Bookend Capital Partners I LP
- Focus: Controlled investments in professional, industrial and consumer markets.
- Amount raised: $86.8 mln
- Target: $300 mln
- Location: New York City
- Phone: +1 646-595-1663
- Filing: https://bit.ly/2XU05ar
Clovis Point
- Fund names: Clovis Point II, LP; Clovis Point II-B, LP
- Focus: Buyout and growth equity investments in U.S.-based lower middle-market companies.
- Amount raised: $37.8
- Target: N/A
- Location: Houston, TX
- Phone: +1 713-996-6731
- Filings: https://bit.ly/2JCxrqr; https://bit.ly/2LWkR76
Corrum Capital Management
- Fund name: Corrum Capital Aviation Partners II, LP
- Focus: Direct debt and equity investments in partnership with experienced operators.
- Amount raised: $35 mln
- Target: N/A
- Location: Charlotte, NC
- Phone: +1 704-330-7300
- Filing: https://bit.ly/2ShSLnK
Mangrove Equity Partners
- Fund name: MANGROVE INVESTORS III, L.P.
- Focus: Industrial product manufacturing, consumer product manufacturing, industrial services, distribution.
- Amount raised: $175 mln
- Target: $175 mln
- Location: Tampa, FL
- Phone: +1 813-868-4500
- Filing: https://bit.ly/2XLMS3j
Navegar
- Fund name: Navegar II L.P.
- Focus: Growth capital to established businesses in agriculture, consumer finance, education, food and beverage, heathcare, business process outsourcing, leisure and hospitality, manufacturing and retail.
- Amount raised: $87.1 mln
- Target: $200 mln
- Location: Philippines
- Phone: +63 2-808-4566
- Filing: https://bit.ly/2Y8k7Ca
OrbiMed Healthcare Fund Management
- Fund name: OrbiMed Royalty & Credit Opportunities III, LP
- Focus: Provide commercial-stage healthcare companies with non-dilutive structured debt capital.
- Amount raised: $889.8 mln
- Target: $1.2 bln
- Location: New York City
- Phone: +1 212-739-6400
- Filing: https://bit.ly/2JBJxjG
Pacific Private Money
- Fund names: Pacific Private Feeder Fund III L.P.; Pacific Private Credit Fund III L.P.; Pacific Private Equity Opportunities Fund III L.P.
- Focus: Owner occupied loans, bridge or refinance, construction, commercial and non-owner occupied acquisition and rehab.
- Amount raised: $669.7 mln
- Target: N/A
- Location: Newport Beach, Calif.
- Phone: +1 949-219-3352
- Filings: https://bit.ly/2JAQYHG; https://bit.ly/2YX7cAl; https://bit.ly/2SeE1Gi
Searchlight Capital
- Fund names: Searchlight Capital III, L.P.; Searchlight Capital III PV, L.P.
- Focus: Buyouts, growth equity, recapitalizations across North America and Europe.
- Amount raised: $2.8 bln
- Target: $3.25 bln
- Location: New York City
- Phone: +1 212-293-3730
- Filings: https://bit.ly/2SpHD8v; https://bit.ly/32vSfaq
Download a spreadsheet with information about all of the funds: Emerging PE Roundup