Fundraising drags along as summer slowly fades to autumn. U.S. buyout and mezzanine firms added only $1.3 billion to the 2018 fundraising total in the past few weeks.
Riverside Co is largely to thank for the addition, raising about that sum itself. Its fifth microcap fund closed at $1.2 billion. The fund took less than four months to raise, a news release said.
Riverside invests in growing businesses in a variety of industries — from consumer brands to healthcare to software and IT — throughout North America, Europe and Asia-Pacific.
Vesey Street Capital Partners raised more than $136 million for a healthcare fund; the total amount including GP commitments was $147.9 million. The target is $250 million.
Deals, meanwhile, stayed strong since the last Buyouts issue, adding nearly $10 billion to the 2018 total. Two acquisitions in particular helped push the YTD total through the $150 billion threshold.
Verscend Tech acquired the entire share capital of Cotiviti Holdings, the Atlanta provider of financial-transaction services, for a total value of $4.3 billion in cash.
The other large deal was the acquisition of Verifone Systems, a San Jose, California, producer of payment technology, for $2.6 billion. It was acquired through a special purpose acquisition vehicle formed by Francisco Partners.
Additional Data
IPO REGISTRATIONS BY SELECT PRIVATE EQUITY-BACKED COMPANIES IN 2017-18 YTD
Pricing Table_Mid Mkt_September 2018
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