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Chris Witkowsky

Co-investment opportunities have dried up along with the broader deal environment, but many LPs continue to seek ways to invest alongside GPs into deals.
It’s not clear if the CPPIB deal has closed yet. It’s possible the buyers are attempting to renegotiate the price on the deal since the market dislocation.
Hillhouse has been talking to limited partners about its fifth fundraising program, which comes in quick time after the firm closed Fund IV on $10.6bn in 2018.
Across the private equity industry, the impacts of the pandemic-spurred economic downturn are being felt in dealmaking, which has slowed or paused fundraising processes while LPs work to understand the status of their portfolios.
LPs have reported frequent and broad communication from GPs, who are keeping fund investors updated on the status of portfolio companies, vulnerable spots, and actions GPs are taking to defend investments.
MiddleGround, which launched in 2018, joins Leonard Green & Partners as another firm setting up assistance for portfolio company employees who are adversely affected by the coronavirus outbreak. 
The fund will be for employees of Leonard Green portfolio companies adversely impacted by the outbreak of covid-19.
Prevailing wisdom is that funds in market or just coming out would have to add another three to six months on top of their fundraising schedules.
Rubicon Technology Partners launched fundraising last fall, so if it officially closes soon, it will have raised the pool in under a year.
The firm closed Fund VIII on $1.25bn in 2017, with an additional $125m for an overage program for larger deals or follow-on investments.

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