U.S.-based buyout and mezzanine fundraising was uneventful over the past two weeks, with the year-to-date total growing from $42.2 billion to $45.5 billion. That total is $12.5 billion less than it was at this time last year.
Kohlberg Kravis Roberts & Co headlined the effort by closing KKR Special Situations Fund II. The fund exceeded expectations and closed on about $3.4 billion. HIG Capital also exceeded its goal. HIG Brazil & Latin America Partners, which had a target of $600 million, raised $740 million. DFW Capital Partners closed its fifth eponymous flagship at $360 million. Similarly, McCarthy Capital finalized its sixth flagship fund at $353 million, over $100 million more than it aimed for.
A duo of mezzanine funds held final closes. GoldPoint Partners finished its fourth mezzanine pool at $699 million. Not far off was PineBridge Investments’ PineBridge Structured Capital Partners III, which raised $600 million.
Pagoda Asset Management is out raising its first fund. Its debut fund, Pagoda Investment Limited Partnership, will delve in the distressed market and has already collected $215 million toward its $500 million target.
Like fundraising, deal-making was slow for the past two weeks, with the year-to-date value increasing by $3.7 billion. The yearly total now sits at $58.6 billion, $17.8 billion ahead of this time last year. The top deals were a related pair of real estate transactions.
Consonant Investment Management Co Ltd, a subsidiary of the Fortress Investment Group, acquired two different properties from Tokyo-based Tokutei Mokutei Kaisha. It bought Hotel Mystays Gotanda Ekimae for $217.9 million and two of Tokutei’s property portfolios for a total of $141.5 million.
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IPO REGISTRATIONS BY SELECT PRIVATE EQUITY H-BACKED COMPANIES IN 2015-2016 YTD
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