U.S.-based buyout and mezzanine fundraising started October off tepidly. Over the past two weeks, the yearly total only grew by $4 billion. Thus far in 2017, $178.9 billion has been raised, leading this time a year ago by $32.6 billion, or 22.3 percent.
Spectrum Equity held a major close since Buyouts last went to press. The Boston firm closed its eighth flagship at its hard cap of $1.25 billion.
Three nascent firms closed their debut vehicles.
Pontifax AgTech Management, a firm investing globally in productivity, sustainability and efficiency in the agriculture supply chain, closed on $105 million in commitments.
New York’s BHMS Investments, established by former executives from Kohlberg Kravis Roberts and Morgan Stanley, hit the middle of its target range and wrapped up with $62.8 million.
WRB Serra Partners, an investor in renewable energy, efficiency and water infrastructure in Latin America and the Caribbean, finalized its Fund I on $46.5 million.
Dealmaking picked up and its total grew by $10.7 billion. The yearly aggregate now sits at $158.3 billion, ahead of 2016’s total by $33.7 billion, or 27 percent.
Of deals with disclosed value, a trio cleared the billion-dollar threshold.
The largest of the three was for West Corp. Apollo Global Management acquired the provider of customer relationship management outsourcing services for nearly $5 billion.
I Squared Capital Advisors followed with buying out Hutchison Global Communications Investment Holding Ltd, a wired telecommunications carrier, for about $1.9 billion.
Carlyle Group completed the triumvirate, purchasing the Gabon onshore oil assets of Royal Dutch Shell Plc for a shade over $1 billion.
Additional Data
IPO REGISTRATIONS BY SELECT PRIVATE EQUITY-BACKED COMPANIES IN 2017 YTD
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