- Eleven emerging PE funds raised more than $6.2 bln from June 19 to July 2
- Second-largest haul this year
- Altas topped the list with more than $2.6 bln for Fund II
Emerging managers enjoyed a recent surge in fundraising. Eleven emerging PE funds raised more than $6.2 billion from June 19 through July 2, according to Buyouts data. That’s the second biggest fundraising haul over a two-week period this year, behind the $8.8 billion raised from May 8 to May 21.
Altas Partners rounded up the most. The Toronto-based firm’s sophomore fund raised more than $2.6 billion from 110 investors, according to an SEC filing. No target was listed.
Altas focuses on high-quality businesses and has portfolio companies across a wide range of sectors, including healthcare and industrials, according to its website.
The second-biggest fundraiser was Intermediate Capital Group of New York. It raised $1.1 billion from six investors for its third strategic equity fund, according to an SEC filing. Its predecessor fund closed at nearly $1.1 billion in 2017, according to a regulatory filing.
In third place was Hahn & Co, which is raising its third fund. The firm raised more than $829.7 million across two vehicles. Based in Seoul, Hahn makes corporate acquisitions and investments in South Korea.
Below is a rundown of the emerging private equity funds raised between June 19 and July 2:
400 Capital
- Fund name: 400 Capital Asset Based Offshore Term Fund II LP
- Focus: Residential and commercial mortgage loans and securities, consumer loans and asset-backed securities.
- Amount raised: $100 mln
- Target: $400 mln
- Location: New York City
- Phone: +1 212-612-3101
- Filing: https://bit.ly/2xFguoq
Altas Partners
- Fund name: Altas Partners Holdings II LP
- Focus: Stable, high-quality businesses with sustainable advantages and good long-term prospects.
- Amount raised: $2.635 bln
- Target: Undisclosed
- Location: Toronto
- Phone: +1 416-306-9800
- Filing: https://bit.ly/2XZ36dw
Carnelian Energy Capital
- Fund name: Carnelian Energy Capital III LP
- Focus: Lower-to-middle market North American upstream, midstream and oilfield service sectors.
- Amount raised: $775 mln
- Target: $775 mln
- Location: Houston
- Phone: +1 713-322-7310
- Filing: https://bit.ly/2S8B89V
Corridor Capital
- Fund names: Corridor Capital III LP and Corridor Capital III Parallel LP
- Focus: Specialty manufacturing, value-added distribution and business services.
- Amount raised: $72.9 mln
- Target: Undisclosed
- Location: Los Angeles
- Phone: +1 310-442-7001
- Filings: https://bit.ly/2XAOuBJ; https://bit.ly/2JpghN6
Estancia Capital Partners
- Fund name: Estancia Capital Partners Fund II LP
- Focus: Buyout and growth equity investments primarily in small-to-lower middle market companies in the asset management industry.
- Amount raised: $74.6 mln
- Target: $300 mln
- Location: Scottsdale, Arizona
- Phone: +1 480-448-5001
- Filing: https://bit.ly/2XATYYD
Hahn & Co
- Fund names: Hahn & Co III LP and Hahn & Co III-S LP
- Focus: Controlling positions in companies in South Korea across a wide range of industries.
- Amount raised: $829.7 mln
- Target: Undisclosed
- Location: Seoul, South Korea
- Phone: +82-2-6353-7900
- Filings: https://bit.ly/2XCO91t; https://bit.ly/2JzdJdV
Intermediate Capital Group (ICG)
- Fund name: ICG Strategic Equity Fund III LP
- Focus: Working with incumbent fund managers to provide liquidity options for existing investors in mature or expiring fund vehicles.
- Amount raised: $1.1 bln
- Target: Undisclosed
- Location: New York City
- Phone: +1 212-710-9650
- Filing: https://bit.ly/2Jrow9S
McNally Capital
- Fund names: McNally Capital – NRN QOF I LLC and McNally Capital – NRN QOF II LLC
- Focus: Opportunity zones.
- Amount raised: $19.6 mln
- Target: Undisclosed
- Location: Chicago
- Phone: +1 312-357-3710
- Filings: https://bit.ly/2JpWJIg; https://bit.ly/32ixKxN
Revelstoke Capital Partners
- Fund name: Revelstoke Capital Partners Fund II LP
- Focus: Healthcare and related business services companies.
- Amount raised: $437 mln
- Target: Undisclosed
- Location: Denver, Colorado
- Phone: +1 303-953-3232
- Filing: https://bit.ly/2WRYgu1
Spring Lange Capital
- Fund names: Spring Lane Capital Fund I LP and Spring Lane Capital Offshore Fund I LP
- Focus: Growth equity within energy, water, food and waste sectors.
- Amount raised: $111.6 mln
- Target: $400 mln
- Location: Boston
- Phone: +1 617-580-9127
- Filings: https://bit.ly/2XMuJqr; https://bit.ly/2xA5Wai
T-Street Capital
- Fund name: T-Street Opportunity Fund I LP
- Focus: Growth equity within consumer products, food and beverage and specialty manufacturing sectors.
- Amount raised: $75 mln
- Target: Undisclosed
- Location: New York City
- Phone: +1 212-380-8218
- Filing: https://bit.ly/32kmi58