Research

Market at a Glance – Fundraising storms toward close of Q1

April 2 2018

private equity, merger, M&A, fundraising

Over the past two weeks, U.S.-based buyout and mezzanine funds surged toward the end of the first quarter. The total for 2018 now stands at $49.3 billion, leading this time last year by $14.7 billion, or 42.4 percent.

Clearlake Capital Group finalized its latest pool, surpassing its original target of $2.5 billion and reaching $3.6 billion for its fifth flagship. Clearlake Capital Partners Fund V focuses on the industrials and energy, software and technology-enabled services and consumer sectors.

Bernhard Capital Partners got close to wrapping up its sophomore fund on its $1 billion target. Bernard specializes in acquiring service providers in the energy and industrial spaces.

Ampersand Capital Partners closed its latest vehicle, AMP-18, at $450 million in commitments. Ampersand aims at the healthcare industry, making both majority and minority investments in companies with $10 million to $100 million in revenue and positive EBITDA.

Since Buyouts last went to press, dealmaking continued its slow growth, adding only $1.4 billion to this year’s sum. The year’s total now sits at $29.8 billion, trailing this time a year ago by $5.7 billion, or 16 percent.

The largest deal with disclosed value was for JBS Five Rivers Cattle Feeding. The world’s largest cattle-feeding operator was acquired by Dyal Capital Partners for $200 million.

Following that was the transaction for ProVation Medical. Clearlake bought out the provider of procedure documentation and clinical support solutions for hospitals and ambulatory surgery centers for $180 million.