Firms & Funds

Market at a glance: Fundraising surges

September 12 2016

U.S.-based buyout and mezzanine fundraising had a strong two weeks, stacking up $14.7 billion on top of its 2016 total. The bump in the year’s sum pared the disparity with 2015, and the total now sits nearly $27.8 billion — or 19 percent — below this time last year.

Madison Dearborn reached the $4.43 billion hard cap on its seventh flagship fund, surpassing the $3.75 billion target.

Kayne Anderson Capital Advisors collected an extra $50 million for its first energy buyout vehicle. Kayne Anderson Energy Income Fund closed on $1.55 billion.

New York-based AEA Investors also went beyond its set target for its latest fund. AEA Small Business Fund III aimed for $350 million and came away with $443.1 million.

Reentering the fold is TPG Capital Management with its sixth Asia-focused buyout fund. It aspires to be the firm’s largest Asia fund, as it will seek $4 billion in commitments.

Deal-making also jumped, albeit not as much. Over the last two weeks, the year-to-date closed deals total went to $110.1 billion, inflating by $4 billion. The aggregate sits about $26 billion behind 2015’s deal pace – or 19 percent.

Thoma Bravo was the long pole in the tent, buying Qlik Technologies Inc, a business solutions software developer, for nearly $2.6 billion.

Following was Round Hill Capital and StepStone Group acquiring a property portfolio of NLI Eiendomsinvest AS, a Norwegian commercial realtor, for $200 million.